Finance leaders from the Group of Seven wealthy democracies urged Israel on Saturday to maintain its correspondent relationships with Palestinian banks and said they were committed to resolving problems blocking a reallocation of taxing rights on large multinational companies.
A statement issued a day after G7 finance ministers and central bank governors met late on Friday also condemned Iran’s military attacks on Israel as well as its transfer of advanced weapons to Russia.
The G7 finance leaders said the continuation of Israeli-Palestinian correspondent banking relationships were needed “so that vital financial transactions and critical trade and services continue.”
The statement, which echoed warnings from U.S. Treasury officials, also called for the release of withheld clearance revenues to the Palestinian Authority in full and the reissuance of permits for Palestinian workers where security allows.
The G7 communique came after separate statements from the group on Friday night that laid out principles for $50 billion in bilateral loans to Ukraine backed by frozen Russian sovereign assets that could be disbursed starting as early as December.
