Israeli defense firm Elbit profits from Gaza conflict while facing international scrutiny and arms deals continue across Europe.
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While Gaza is being leveled and tens of thousands are killed, European governments continue to sign or implement contracts with Israel’s largest defense industry. The prominent Elbit Systems is recording record profits across countries from Greece to Romania and the Netherlands to Spain, even as NATO reportedly freezes cooperation due to corruption investigations. The article questions who chose to continue supporting this despite the devastation in Gaza. Despite the destruction in Gaza, Israeli defense companies like Elbit are achieving historical profits, with Elbit reporting significant revenue growth and a large backlog of contracts, much of which comes from outside Israel, particularly Europe. Investigations have revealed that NATO’s NSPA has excluded Elbit from new tenders amid corruption probes, allegedly involving bribes to influence at least 15 NATO procurements. Despite these issues, European governments continue approving multi-million euro contracts with Elbit. In Greece, the Parliament recently approved a purchase of PULS missile systems worth hundreds of millions of euros, despite reports that these systems are used in Gaza operations and without addressing potential risks related to NSPA investigations. The article dismisses claims of humanitarian concern as empty, citing past evidence of Greek involvement in transferring military equipment to Israel. Furthermore, Elbit’s close ties with the government are highlighted by large defense contracts awarded previously. While some entities globally have divested from Elbit due to alleged war crimes, European nations like the Netherlands and Germany continue purchasing its systems. The issue extends to financial markets, as Elbit shares have been invested in “ESG” or “climate transition” funds, potentially allowing small European savers to unknowingly fund actions linked to genocide. The text concludes by noting that while Spain has enacted measures aiming for an arms embargo on Israel, data suggests significant military sales still occur through Spanish public bodies. Romania maintains a deep industrial integration with Elbit, continuing contracts despite social criticism.
