Palestine Action Targets Shareholders And Insurers Of Elbit

November 5, 2024 –
From Popular Resistance

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Above photo: Martin Pope/Palestine Action.

Palestine Action has upped the ante over UK-based companies propping up Israel’s ethnic cleansing and genocide in Gaza. This time, the group targeted two different companies – Allianz and BNY Mellon – from two different industries. But the common denominator was their support for the Zionist entity.

Palestine Action: going back to Allianz

First, following on from Palestine Action’s concerted actions on Allianz UK offices in October, activists made a return visit to the company’s Glasgow offices, at 58 Waterloo Street, over the weekend. Activists broke glass and sprayed the building red.

Allianz not only provide Employers Liability Insurance to Elbit Systems, Israel’s biggest arms manufacturer, but they also hold substantial shares in the company. Elbit Systems manufacture more than 85% of the Israeli military’s drones, including the quadcopters being used to slaughter Palestinian civilians.

Back on the morning of 8 October, Palestine Action targeted 10 Allianz branches, covering them in graffiti and blood-red paint, as well as occupying their Guildford offices. As the group said at the time:

These nationwide actions serve as a reminder that, throughout the past twelve months, Western capital has continued to profit from the mass murder of Palestinians.

Palestine Action has since written to Allianz, to ask that they end their relationship with Elbit, which is a direct contradiction of their human rights policy which supposedly commits the company to ‘supporting and respecting the protection of international human rights’ and ‘ensuring that Allianz is not complicit in human rights abuses’.

Drop your agreement

Part of the letter reads:

Elbit Systems is Israel’s largest weapons manufacturer, who produce weapons which are marketed as “battle-tested” on the Palestinian people. They provide 85% of Israel’s military drone fleet and land based equipment, as well as bullets, missiles and digital warfare. Elbit’s Israel-based CEO, Bezhalel Machlis, who also sits on the board of Elbit Systems UK, explained how the company has “ramped up production” to meet the demand of the Israeli military’s genocidal campaign in Gaza and across the wider region. The International Court of Justice has ruled it’s plausible Israel is committing genocide — a genocide armed by Elbit Systems, your client.

The letter to Allianz concludes:

We ask that you do not renew your insurance of Elbit Systems UK, and do not insure the company, or any of its subsidiaries in the future. We also request that you completely divest from Elbit Systems Ltd. If you can confirm that you will cease all dealings with Elbit Systems, we will happily end our campaign against you.

So far Palestine Action has not received a response from the company. Their Employers’ Liability Insurance policy with Elbit is due for renewal on 7 November 2024.

The group said in a statement that:

We again urge Allianz to end all their links with the Genocidal arms manufacturer, and if they fail to do so, they can expect to hear from Palestine Action again.

BNY Mellon also under fire

Then, overnight on Monday 4 November, activists targeted the Bank of New York Mellon’s London office at 160 Queen Victoria St, London, EC4V 4LA.

Windows and doors were shattered and red paint was sprayed across the building to symbolise BNY Mellon’s complicity in Palestinian bloodshed.

The bank’s latest disclosures show the bank holds 43,519 shares in Elbit Systems, worth over $7.6 million.

After 54 similar actions were taken against Barclays, the bank no longer holds any shareholdings in Elbit Systems — according to their most recent SEC filings. APCO, an international lobby firm, also cut ties with Elbit following a Palestine Action direct action campaign.

A Palestine Action spokesperson said:

Financial institutions reduce Palestinian lives to profits on their balance sheets. Therefore, we will make investing in Israel’s weapons trade more costly than any potential gain, through direct action. Actions will cease once the bank no longer holds any shares in Israel’s biggest weapons producer, Elbit Systems.

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