Egypt Daily News – In a deepening rift between the U.S. administration and United Nations officials, Washington has imposed sanctions on Francesca Albanese, the UN Special Rapporteur on the situation of human rights in the occupied Palestinian territories. The move came just days after she presented a landmark report titled “From Occupation Economy to Genocide Economy,” which exposed the complicity of more than 60 multinational companies in Israel’s military campaign and settlement expansion in Gaza and the West Bank.
Corporate Involvement in Gaza’s Destruction
The report, cited by Radio Monte Carlo International, is based on over 200 testimonies and documents from governments, human rights organizations, academics, and corporate sources. It outlines a complex financial and logistical network supporting Israeli operations, implicating major global corporations across sectors from defense to tech and finance.
Among defense contractors, the report names Lockheed Martin and Leonardo, noting that their weapons are used in Israeli military operations in Gaza. Israeli companies like Elbit Systems and Israel Aerospace Industries reportedly saw major increases in profits, fueled by a 65% rise in Israel’s military spending between 2023 and 2024 reaching $46.5 billion, one of the highest globally, according to Anadolu Agency.
Foreign arms manufacturers have also benefited, particularly those supplying munitions and military hardware, amid growing demand driven by the ongoing conflict.
The report also details how heavy machinery companies, such as Caterpillar and HD Hyundai, supplied bulldozers and construction equipment used in the demolition of Palestinian homes and infrastructure — a practice observed by human rights monitors for years.
In the tech sector, companies like Alphabet (Google’s parent company), Amazon, Microsoft, IBM, and Palantir Technologies were described as integral to Israel’s surveillance apparatus. IBM, HP, and Israeli firm NSO Group were specifically noted for their roles in developing biometric surveillance and spyware systems used to monitor Palestinians and enforce what the report refers to as a system of apartheid.
Financing the War: Bonds and Global Banks
Facing ballooning military expenditures, the Israeli government has turned to international markets to finance its war efforts. In February and March 2024 alone, Israel issued $13 billion in bonds. Global financial giants such as BNP Paribas and Barclays helped underwrite the offerings, bolstering investor confidence.
Asset management firms also played a key role. The report highlights that BlackRock, Vanguard, and Allianz purchased substantial portions of these bonds $68 million, $546 million, and $960 million respectively, contributing to a 179% surge in the Tel Aviv Stock Exchange and generating $157.9 billion in market gains since the onset of the war.
U.S. Sanctions on Albanese
In response to the report’s findings and her vocal criticism of U.S. and Israeli policies, the Trump administration reportedly urged UN Secretary-General António Guterres to dismiss Albanese, accusing her of antisemitism.
Shortly after, U.S. Senator Marco Rubio announced sanctions against her, citing her efforts to push the International Criminal Court (ICC) to investigate alleged war crimes committed by the U.S. and Israel.
Albanese had previously called on Italy, France, and Greece to clarify their decisions to allow Israeli Prime Minister Benjamin Netanyahu who is wanted by the ICC, to use their airspace during official travel.
Reacting to the sanctions, Albanese described them as “mafia-style intimidation,” writing on X (formerly Twitter):
“No comment on mafia-like tactics. I am busy reminding states of their duty to stop and punish genocide, and those who profit from it.”
In a separate post, she warned that political actions violating international law ultimately weaken citizens and increase global risk:
“Italian, French, and Greek citizens deserve to know that every political decision undermining international legal norms weakens us all.”
A Nobel Peace Prize Nomination?
Amid this growing backlash, European lawmaker Matjaž Nemec of Slovenia has proposed nominating Albanese for the 2026 Nobel Peace Prize.
In a post on X, Nemec called on fellow parliamentarians to support the nomination, stating:
“Through her reporting and advocacy, Albanese has become the voice of millions calling for accountability for the Israeli government’s genocidal actions — based on facts and clear legal arguments.”
He praised Albanese as a rare figure of moral clarity:
“She brings balance against the hypocrisy dominating much of Europe and the U.S. and has been a leading voice confronting the brutal treatment of Palestinians in Gaza and the West Bank.”
