9 EU Countries Call for Talks on Ending Trade with Israeli Settlements

Israeli soldiers take aim during a raid in the old town of Nablus city in the occupied West Bank on June 10, 2025. (Photo by Jaafar ASHTIYEH / AFP)
Israeli soldiers take aim during a raid in the old town of Nablus city in the occupied West Bank on June 10, 2025. (Photo by Jaafar ASHTIYEH / AFP)
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9 EU Countries Call for Talks on Ending Trade with Israeli Settlements

Israeli soldiers take aim during a raid in the old town of Nablus city in the occupied West Bank on June 10, 2025. (Photo by Jaafar ASHTIYEH / AFP)
Israeli soldiers take aim during a raid in the old town of Nablus city in the occupied West Bank on June 10, 2025. (Photo by Jaafar ASHTIYEH / AFP)

Nine European Union countries have called on the European Commission to come up with proposals on how to discontinue EU trade with Israeli settlements in the occupied Palestinian territories, according to a letter seen by Reuters on Thursday.

The letter, addressed to EU foreign policy chief Kaja Kallas, was signed by foreign ministers from Belgium, Finland, Ireland, Luxembourg, Poland, Portugal, Slovenia, Spain and Sweden.

The EU is Israel's biggest trading partner, accounting about a third of its total goods trade. Two-way goods trade between the bloc and Israel stood at 42.6 billion euros ($48.91 billion) last year, though it was unclear how much of that trade involved settlements.

The ministers pointed to a July 2024 advisory opinion from the International Court of Justice, which said Israel's occupation of Palestinian territories and settlements there are illegal. It said states should take steps to prevent trade or investment relations that help maintain the situation.

"We have not seen a proposal to initiate discussions on how to effectively discontinue trade of goods and services with the illegal settlements," the ministers wrote.

"We need the European Commission to develop proposals for concrete measures to ensure compliance by the Union with the obligations identified by the Court," they added.

Israel's diplomatic mission to the EU did not immediately respond to a request for comment.

Belgian Foreign Minister Maxime Prevot said Europe must ensure trade policy is in line with international law.

"Trade cannot be disconnected from our legal and moral responsibilities," the minister said in a statement to Reuters.

"This is about ensuring that EU policies do not contribute, directly or indirectly, to the perpetuation of an illegal situation," he said.

The ministers' letter comes ahead of a meeting in Brussels on June 23 where EU foreign ministers are set to discuss the bloc's relationship with Israel.

Ministers are expected to receive an assessment on whether Israel is complying with a human rights clause in a pact governing its political and economic ties with Europe, after the bloc decided to review Israel's adherence to the agreement due to the situation in Gaza.



Oil Prices Inch up on Geopolitical Risks, Easing Tariff Worries

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
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Oil Prices Inch up on Geopolitical Risks, Easing Tariff Worries

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo

Oil prices edged up on Thursday on signs of easing trade tensions, stronger than expected economic data from the world's top oil consumers and renewed risks in the Middle East.

Brent crude futures were up 17 cents, or around 0.3%, to $68.67 a barrel at 0856 GMT. US West Texas Intermediate crude futures were up 31 cents, or 0.5%, at $66.69.

"Oil thinking has been distracted from the Middle East, and the reminders of Israel's attacks into Syria and the drone attacks on oil infrastructure in Kurdistan are timely and once again add a little fizz to proceedings," said John Evans, analyst at PVM Oil Associates, Reuters reported.

"Any other incident that deprives the market of barrels will be added to the low inventory narrative and we expect prices to continue to hold with any risk being to the upside."

Drone attacks on oilfields in Iraq's semi-autonomous Kurdistan region have slashed crude output by up to 150,000 barrels per day, two energy officials said on Wednesday, as infrastructure damage forced multiple shutdowns.

Meanwhile, US President Donald Trump has said letters notifying smaller countries of their US tariff rates would go out soon, which along with his renewed optimism about prospects of a deal with Beijing on illicit drugs and an agreement possible with Europe helped calm investors.

"Trump softened tones on China and proposed lower tariff rates on smaller countries, which are seen as positive developments in the global trade outlooks," said independent analyst Tina Teng.

"China's better-than-expected economic data and the US's larger-than-expected oil inventory draw have both been bullish factors for oil prices."

US crude inventories fell more than expected by 3.9 million barrels to 422.2 million barrels last week, the Energy Information Administration said on Wednesday, suggesting stronger refinery activity, tighter supply, and increased demand.

However, larger than expected builds in gasoline and diesel inventories capped price gains, raising concerns of weakening demand from summer travel, ANZ analysts said in a note on Thursday.

Data showed that China's June crude oil throughput was up 8.5% from a year ago, implying stronger fuel demand.