Israeli Prime Minister Benjamin Netanyahu has said the country's economy and banking sector must prepare for the possible imposition of severe international sanctions.
According to Report, citing The Times of Israel, he made the remarks in an interview with the economic television channel Channel 10.
Asked about the potential impact of sanctions on Israel's economy, Netanyahu acknowledged that he was concerned about the prospect. The question came amid extensive British sanctions against Israeli settlements announced last month.
The prime minister also said Israel should prepare for an end to US military assistance.
"Get used to the idea that the tens of billions of dollars in American military aid will not continue to flow forever. Because America has changed. Not because Israel has changed. This will come to an end; it is only a matter of time," he said.
Netanyahu has previously stated that Israel should gradually reduce its dependence on US military aid.
Addressing the possibility of banking restrictions, the prime minister stressed the need to develop alternative economic mechanisms.
"We need to understand that sanctions are possible. And banking sanctions mean that we need to establish an alternative economy capable of circumventing them," Netanyahu said.
In this context, he mentioned currencies that could be used to bypass such restrictions, including blockchain-based cryptocurrencies.
According to the prime minister, blockchain is one of the options Israel is considering to circumvent possible sanctions. He added that he had already instructed officials to prepare a corresponding plan.