Israeli Prime Minister Benjamin Netanyahu said that Israel should prepare for mounting international sanctions and use cryptocurrency in order to circumvent them.
According to him, Israel must prepare for the end of U.S. military assistance worth tens of billions of dollars, calling the prospect “only a matter of time.”
Netanyahu said that he had ordered preparations for potential economic and banking sanctions, including exploring alternative financial technologies.
The PM gave no date for an end to the assistance and announced no formal U.S. decision, instead calling for preparations for a possible future halt.
On potential sanctions, he said Israel must develop alternative economic and financial mechanisms.
“You have to understand that there could be sanctions, including banking sanctions. You need to prepare an economy that can get around them,” Netanyahu said.
Asked whether blockchain technology could offer an alternative for dealing with economic sanctions, Netanyahu replied: “Yes, that's one of the ways. And I've already asked for a plan to be prepared.”
