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New report on situation in Gaza by the impeccable Francesca Albanese is out.
The UN Special Rapporteur’s 27-page report shows, in granular detail, how Israel’s war economy has mutated from “occupation” to an “economy of genocide,” powered by a tight-knit web of global corporations and investors.
The document names more than 60 firms, among them Google, Amazon, Microsoft, Palantir, Lockheed Martin, Elbit Systems, Caterpillar, HD Hyundai, Volvo, Chevron, Drummond and Glencore, as direct beneficiaries and enablers of the destruction of Gaza and the entrenchment of West-Bank settlements.
It stresses that these companies are “just the tip of the iceberg,” drawn from a database of roughly a thousand entities compiled for the investigation. Israel’s defence budget jumped 65% between 2023 and 2024, to $46.5 billion, creating windfall profits for domestic giants Elbit Systems and Israel Aerospace Industries and for foreign suppliers such as Lockheed Martin, whose F-35 and F-16 fleets delivered many of the 85,000 tons of ordnance dropped on Gaza.
When the Israeli military cloud collapsed under the data load in October 2023, Microsoft Azure and the Google-Amazon Nimbus consortium “stepped in with critical cloud and AI infrastructure,” providing real-time targeting capacity and shielding the data inside Israel-based servers.
On the ground, Caterpillar D9 and HD Hyundai or Volvo excavators, often fitted with Israeli remote-control kits, have razed homes, mosques, hospitals and farmland, preventing any return of displaced communities.
Civilian infrastructure has been weaponised too: the state water monopoly Mekorot throttled supply to 5% of normal flow in large parts of Gaza, and Israel’s control of fuel and electricity lines pushed desalination plants, pumps and hospitals to the brink of total collapse.
International energy majors feed that system: Chevron’s Leviathan-Tamar consortium supplies more than 70% of Israel’s gas and paid the government $453 million in royalties in 2023, while Drummond and Glencore kept coal ships sailing even after Colombia’s export ban, ensuring Israel’s power stations never stopped.
A parallel financial lattice underwrites the violence. BlackRock, Vanguard and Allianz are among the biggest institutional holders of shares in Palantir, Microsoft, Amazon, Alphabet, IBM, Lockheed Martin, Caterpillar and Elbit, implicating pension funds and university endowments worldwide in the genocide economy.
Since 7 October 2023, underwriters such as BNP Paribas and Barclays have snapped up or marketed Israeli treasury issues, while the Israel Bonds agency nearly tripled sales, routing almost $5 billion into the war budget and even allowing investors to donate coupon payments directly to military units.
The payoff is stark: equities on the Tel Aviv Stock Exchange have soared 179% during the assault on Gaza, adding roughly $158 billion in value while buildings were still smouldering.
Francesca Albanese urges UN member-states to impose a total arms embargo, suspend trade and investment links, and freeze the assets of any company or executive tied to these crimes. She calls on national courts and the International Criminal Court to pursue individual corporate officers for aiding and abetting genocide, war crimes and apartheid.
Taken together, the evidence shreds the claim that Gaza’s devastation is an unfortunate by-product of war. It is a meticulously monetised enterprise in which cloud-computing contracts, bond sales, construction gear, and fuel shipments are as indispensable as missiles and drones, an integrated business model whose ledger is written in Palestinian blood.
This outstanding summary has been posted by Thomas Keith on X.
#genocide #memory #freepalestine #warcrime #gazatribunal
