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Wafricnews - July 3, 2025

Geneva - In a damning address to the UN Human Rights Council, United Nations Special Rapporteur Francesca Albanese has called for the international community to sever economic, financial, and military ties with Israel, accusing it of building and profiting from what she describes as an “economy of genocide.”

Albanese’s report, titled From Economy of Occupation to Economy of Genocide, exposes a complex global network of companies—over 60 in total accused of supporting Israel’s ongoing occupation of Palestinian territories through financial backing, arms manufacturing, surveillance technologies, and construction equipment.

“The situation in the occupied Palestinian territory is apocalyptic,” Albanese stated. “Israel is responsible for one of the cruellest genocides in modern history.”

According to the United Nations, nearly 57,000 Palestinians have been killed since the war began almost two years ago. The report says 85 percent of Gaza is now under Israeli military control, with cities destroyed, hospitals targeted, and entire communities displaced multiple times.

War Economy and Global Profiteering

Albanese paints a stark picture of corporate complicity, naming defense giants, tech corporations, banks, and even tourism platforms as players enabling and profiting from Palestinian suffering.

She notes that the Tel Aviv Stock Exchange has surged by more than 200% during the war—gaining over $220 billion in market value—highlighting how one side reaps immense wealth while the other is “systematically erased.”

“One people enriched, one people erased,” Albanese said. “For some, genocide is profitable.”

Her report calls for a full arms embargo and urges governments and institutions worldwide to hold corporations accountable for aiding what she calls a settler-colonial system of domination and erasure.

Corporate Web of Complicity

The UN report identifies multiple industries intertwined with the occupation:

  • Weapons: U.S.-based Lockheed Martin, Italy’s Leonardo SpA, Israel’s Elbit Systems and IAI—all cited for fueling Israel’s war machinery, including drones and F-35 fighter jets.

  • Technology: Amazon, Microsoft, Alphabet, and IBM are named for enabling mass surveillance and intelligence operations targeting Palestinians.

  • Heavy Machinery: Caterpillar (U.S.), Hyundai (South Korea), and Volvo (Sweden) are accused of supplying bulldozers and machinery used in the demolition of Palestinian homes.

  • Tourism and Housing: Airbnb and Booking.com are cited for listing properties in illegal settlements, effectively normalizing occupation.

Notably, companies such as FANUC (Japan) and shipping giant Maersk (Denmark) are accused of maintaining the logistics pipeline for U.S. military support to Israel throughout its campaign on Gaza.

A Call for Action

Albanese’s findings emphasize that corporations, alongside governments, bear responsibility under international law to withdraw from this system.

“There is a prima facie responsibility on every state and corporate entity to completely abstain from or end their relationships with this economy of occupation,” she stated. “If proper due diligence had been applied, most would have already disengaged.”

While only 18 of the 48 named companies responded to inquiries from Albanese’s office, most replies lacked substance or engagement, raising concerns about the transparency and ethical standards of international corporations.

A Tool for Prosecutors—and the Public

Observers say the depth and legal grounding of the report—backed by over 400 citations—could serve as a resource for international prosecutors as well as informed consumers.

Albanese made clear she intended the report not just as an official record, but as a guide for global citizens.

“Everyday people can use this to understand where their money goes, what they buy, and whom they support.”

Israel Rejects Findings

Israel has dismissed the report as “defamatory” and “legally groundless,” accusing Albanese of bias. The country is currently under investigation by the International Court of Justice for potential violations of the Genocide Convention, following a case filed by South Africa in December 2023 and joined by other states.

Israel and its allies, including the United States, have boycotted the Human Rights Council this year, with Israeli officials alleging the body harbors anti-Israel bias. Albanese, meanwhile, has faced personal attacks from Israeli officials in an apparent attempt to deflect from the report’s findings.

Despite these efforts, support for the report was clear in Geneva. Ireland’s representative even confirmed that his country is progressing with legislation to ban imports from illegal settlements.

Final Words

Albanese’s message is unequivocal: the global community—including banks, tech firms, arms dealers, and consumers—must reckon with its role in sustaining an economic model built on apartheid and devastation.

“What I expose is not just a list,” she concluded. “It is a system—and that system must be dismantled.”

WafricNews continues to follow developments from the UN and global movements for accountability and justice in Palestine.


By Wafricnews Desk.

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