The British banking giant Barclays has backed down from its intention to boycott Israel and drastically reduce its financial activity with it, according to the British newspaper Financial Times.
According to the report, the bank's management, under pressure from pro-Palestinian elements, decided to significantly reduce its involvement with Israel when it comes to one of the major banks that assist Israel in selling bonds.
After lengthy deliberations in the bank's executive committee, it was decided to inform official Israeli authorities of the intention to continue to act as principal traders in the bonds alongside the other giant banks.
Ministry of Finance Accountant General Yaheli Rotenberg, responded: "We appreciate the bank's statement affirming its continuing commitment to the State of Israel. It is imperative that leading global financial institutions, such as Barclays, choose to oppose the boycott of Israel and support its legitimate right to self-defense as a leading Western democracy."
The Barclays Bank has recently suffered considerable damage due to its joint activities with Israel. Dozens of branches of the bank have been vandalized by pro-Palestinian activists demanding that the management withdraw all its investments in Israel.