The advocacy group Democracy for the Arab World Now (Dawn) has warned New York State lawmakers and officials that it is prepared to mount a legal challenge to prevent the purchase of Israel bonds.
“Our city and state public officials should ensure that there are no further investments in Israel Bonds because such investments breach their international legal obligations not to aid and abet Israeli crimes and their fiduciary duties to taxpayers,” Sarah Leah Whitson, Dawn’s executive director, said in a statement shared with Middle East Eye on Friday.
“For too long, our public officials have prioritized politically expedient support for Israel, using taxpayer money to finance Israel’s brutal war machine, ignoring the clear financial, ethical and legal harms to our citizens,” she added.
Both New York State and New York City have purchased Israel bonds. The New York State Common Retirement Fund is one of the top US investors in Israeli debt, with over $352m invested as of March 2024, Dawn said. Palm Beach County, Florida, is the largest holder.
Israel Bonds is affiliated with Israel’s finance ministry and sells them inside the US to both retail and institutional investors.
