“Economics of genocide” in Gaza

The Israeli army's grave human rights violations in Gaza, such as wanton destruction, forced displacement, and famine, are made possible by the involvement of prominent corporations that are reaping substantial profits . This is the main thesis of the report "From the Economy of Occupation to the Economy of Genocide," written by jurist Francesca Albanese, United Nations Special Rapporteur on the situation of human rights in Palestine.

The report significantly expands the scope of responsibility for one of the greatest humanitarian crimes of this century, which worsened after Hamas's murder and kidnapping of Israeli civilians in October 2023. The author includes among those responsible for the ongoing Palestinian massacre since 1967 arms manufacturers, technology companies, construction companies, and financial companies, including their executives. Albanese concludes that "Israeli genocide continues because it is lucrative for many." For this reason, she believes that the expansion of responsibility "is a necessary step to end the genocide and dismantle the global system that has allowed it." The word "genocide" is not an accidental term, as it appears 56 times in the well-documented analysis, which is supported by 440 references.

The report argues that the companies have "materially contributed to this initiative by providing Israel with the weapons and equipment necessary to destroy homes, schools, hospitals, places of recreation and worship , livelihoods, and productive assets such as olive groves and orchards." It also emphasizes that "by helping to militarize and incentivize the illegal Israeli presence in the Occupied Palestinian Territory, they have contributed to creating the conditions for Palestinian ethnic cleansing."

The extraordinary profits from the war to occupy Gaza have been reflected in a record 179% increase in the share prices of companies listed on the Tel Aviv Stock Exchange since the start of the attack, translating into a profit equivalent to $157.9 billion (€135 billion).

In the defense sector, the role of Israel's largest defense companies, Ebit and IAI, stands out, for whom "the ongoing genocide has been a profitable venture." The 65% increase in Israel's military spending between 2023 and 2024—which amounted to $46.5 billion, one of the highest in the world—generated a sharp increase in its annual profits. Between 2020 and 2024, Israel was the eighth largest arms exporter in the world.

Following the report, the Trump administration sanctioned Francesca Albanese for naming numerous companies that have benefited from the occupation. The measure has been challenged by Amnesty International, which called the sanctions "a shameless and blatant attack on the fundamental principles of international justice." Albanese's important report underscores the responsibilities of corporations. It warns that their executives must refuse to be complicit in human rights violations. In Palestine, this complicity is crucial. After this report, no one will be able to plead ignorance.