(CNBC) The financial effects of a Palestinian-led boycott against Israel are unlikely to be catastrophic, according to industry experts, whose comments come after another U.S church called for divestment from companies that “are profiting from the occupation.”
When the U.S. Mennonite Church last week passed its Israel-Palestine resolution, it did not see itself becoming a part of the Boycott Divestment, Sanctions (BDS) movement – a group that is targeting Israeli policies vis-à-vis the Palestinians. Yet, it did step straight into a controversy that has emotions running high and of which the effects are hotly contested.
“As a national church, we do not fully endorse all components of the broad BDS movement or approve all of the tactics it employs. However, we believe divestments are in order,” was how the church’s Executive Director, Ervin Stutzman put it in a written reply to CNBC.
That distinction is likely to have been lost, though, on both supporters and critics of the BDS movement. The first have already claimed the church’s resolution as another victory in their campaign, the latter fail to see how one divestment is much different from another divestment. [More]