Zohran Mamdani, the Democratic Party's nominee for New York City mayor, has announced his intention to sever the city's financial ties with Israel by divesting from Israeli government bonds.
Mamdani argues that these investments entangle the city in "violations of international law." His stance is consistent with his history of anti-Israel activism and his broader radical views.
According to Breitbart, Mamdani, who identifies as a democratic socialist and is a practicing Muslim, expressed his plans during a local CBS interview. He stated, "The most important thing is to understand where we are directly implicated within the city pension fund.
A pension fund that purchases Israeli bonds, in my view, is clearly an indication of a conflict with our values, and we know that our values are actually within the framework of international law."
Notably, Mamdani did not specify which international laws he believes Israel has violated, a point that raises questions about the validity of his claims. The only documented breaches of international law in the recent conflict have been attributed to Hamas, which initiated hostilities with a terror attack on Israel on October 7, 2023, and continues to hold hostages without allowing Red Cross access.
Mamdani has also faced criticism for his refusal to denounce the phrase "globalize the intifada," a term associated with a campaign of violence against Israel. Although he has recently stated he would "discourage" its use, his reluctance to outright condemn it is telling.
Meanwhile, New York City ceased purchasing new Israeli bonds in 2023, aligning with a broader strategy to avoid sovereign debt.
Dani Naveh, President & CEO of Israel Bonds, responded to the situation by highlighting the strong support Israel Bonds has received.
"While we dont comment on the statements made by candidates, what I can say is this: Israel Bonds is proud of the unprecedented outpouring of support more than $5.5 billion in investments since October 7 including major commitments from local governments around the country, including the State of New York.
The record-breaking investments we have seen in recent years demonstrate the confidence that Americans have in Israels strength and future."
As the political landscape in New York City evolves, Mamdani's controversial stance on Israel and his broader political views are likely to remain focal points of debate. His approach raises questions about the implications for the city's financial strategies and its alignment with international norms.
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