Netanyahu: Israel Needs 'Alternate Economy' to Circumvent Global Sanctions

The prime minister said Israel must prepare for potential Western sanctions and pointed to blockchain technology as a possible alternative.

Prime Minister Benjamin Netanyahu has called for preparations to establish an "alternate economy" to circumvent potential international banking sanctions, according to reports by ynet, Calcalist, and TheMarker. Netanyahu noted that adopting blockchain technology represents an option that should be examined.

Addressing concerns over sanctions from Western countries, Netanyahu said he had already requested a plan to be formulated on the matter. Touching upon American defense aid, he added that Israel must get used to the idea that this assistance is ending. Further details regarding the proposed plan have not yet been released.