• Thu. Apr 25th, 2024

Breaking the Charity Barrier: The Supreme Court Upholds Bank’s Decision to Block Abramovich Donation to ZAKA

BySamantha Nguyen

Apr 2, 2024
The Supreme Court Deemed the Bank’s Decision to Deny Transfer of Roman Abramovich’s Donation to ZAKA as Justified

The Supreme Court has overturned the district court’s decision in a case involving businessman Roman Abramovich and the ZAKA organization against Mizrahi-Tfahot Bank. In the aftermath of Black Saturday, Abramovich witnessed the work of ZAKA volunteers with the bodies of those killed by Hamas, and was touched by their efforts. He decided to donate 8 million shekels to the organization, but the bank blocked the transfer, citing European Union and British sanctions on Abramovich’s assets.

The plaintiffs filed a lawsuit against the bank for refusing to transfer the funds. The district court initially ruled in favor of them, ordering the bank to carry out the transaction. However, this decision was overturned by the Supreme Court, which found that the bank’s actions were justified and that there had been no violation of any rules or exceptions to sanctions. Additionally, it was determined that ZAKA would not cease to exist without receiving the donation.

This ruling highlights the complexities of international sanctions and their impact on charitable organizations. It also raises questions about banks’ role in enforcing sanctions and their obligations to clients. The Supreme Court’s decision underscores the importance of adhering to international regulations in all cases involving humanitarian aid.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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