The European Union has proposed to suspend parts of its free trade agreement with Israel, affecting about 5.8 billion euros of Israeli exports, the commission announced on Wednesday. The EU also announced that it would be placing sanctions on "extremist Israeli ministers," West Bank settlers, and Hamas.
The EU is Israel's largest trading partner, and accounts for 32% of Israel's total international trade, an EU press release said. If the free-trade arrangement is suspended, Israel would face duties at the same level as other countries without a trade accord with the bloc. (Read More)
