Backlash Mounts Over Netanyahu's Idea to Evade Sanctions via Crypto

Senior economists warn against isolation from global finance as ministries deny knowledge of any plan to use crypto against banking sanctions.

Prime Minister Benjamin Netanyahu's proposal to prepare for circumventing potential banking sanctions using digital currencies and blockchain technology has triggered sharp criticism from experts, ynet and Globes reported.

Senior economists and academics described the initiative as extreme and irresponsible, warning that such measures could disconnect Israel from the international financial system. Former Finance Ministry Director-General Yarom Ariav cautioned that turning to crypto to bypass sanctions would place Israel alongside isolated regimes such as Iran.

According to ynet, officials across Israel's economic ministries were unaware of the proposal, and the Prime Minister's Office indicated that it is not aware of any team working to formulate the plan. Further details have not yet been released.