The European Union's executive body, the European Commission, is moving to suspend trade privileges for Israel after it launched a ground offensive in Gaza.
In an interview with EuroNews on the 16th (local time), the EU High Representative for Foreign Affairs and Security Policy, Kaya Kallas, stated that she will propose to member states the re-imposition of tariffs on goods from Israel. She explained that the total trade volume between the EU and Israel was 42.6 billion euros (approximately 70 trillion KRW) last year, and 37% of this was subject to preferential trade measures.
Given that the EU is Israel's top export market, an increase in tariffs on 37% of its goods is expected to have a significant impact on the Israeli economy.
A package of measures targeting Israel, including the one mentioned by High Representative Kallas, is set to be officially announced on the 17th.
This move follows a stern warning from European Commission President Ursula von der Leyen during her annual policy address on the 10th, where she stated, "What is happening in Gaza is unacceptable."
Von der Leyen said at the time that she would propose a partial suspension of the trade-related provisions of the 'EU-Israel Association Agreement,' which functions similarly to a Free Trade Agreement (FTA). She also plans to push for sanctions against far-right Israeli ministers and settlers, as well as the suspension of Commission-level support funds.
Internal and external criticism that the EU was effectively standing by while the humanitarian crisis in Gaza worsened also appears to have influenced the Commission's firm stance.
The day before, despite repeated appeals from the international community, Israel began a ground offensive on Gaza City. On the 9th, it also bombed Doha, Qatar, a mediating country, on the grounds of assassinating Hamas's leadership.
For the Commission's plan to be realized, it needs the approval of at least 15 member states, representing more than 65% of the EU population. The consent of major countries like Germany and Italy, which have been hesitant to sanction Israel, is a key factor.
In July, the Commission proposed suspending EU research fund benefits for Israeli startups, but the plan was shelved as Germany and Italy delayed their decisions.
High Representative Kallas noted that a deep discussion on measures against Israel took place at a recent meeting of foreign ministers, saying, "I asked not only Germany but all my counterparts (EU ministers) what we could do if they agreed that the situation in Gaza was serious." She added, "If they do not support the measures [proposed by the Commission], they must bring an alternative."
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