Liquidity crisis: Israel’s financial blockade intensifies civilian suffering in Gaza by Euromed Human Rights Monitor

Since the beginning of its genocide in the Gaza Strip in October 2023, Israel has blocked banks and financial institutions from bringing in any cash. This has been accompanied by the targeted destruction of bank headquarters and ATMs, forcing most of them to shut down and triggering a deepening humanitarian and economic crisis that continues to escalate each day. The measures are clearly part of a systematic effort to eliminate any means of survival for Palestinians in the Gaza Strip.

The consequences of the severe cash shortage have become nearly unbearable, especially after more than 18 months of the ongoing genocide. With banking services—including simplewithdrawals and deposits—virtually non-existent, residents have been forced to turn to the black market, where high commissions further deplete their already scarce resources.

… The direct targeting of the Gaza Strip’s financial sector—including a comprehensive financial blockade, cash entryrestrictions, and the destruction of banking infrastructure—is not only a physical attack on the economy but also a central tool in Israel’s policy of starvation and mass destruction.