Colombia has announced that it will suspend exports of coal to Israel in protest over the war in Gaza. President Gustavo Petro shared the decision on social media, stating that exports will only be resumed once Israel complies with orders from the International Court of Justice to halt its military offensive. This move comes after Turkey and the Maldives also took action against Israel in solidarity with Gaza.
Israel is Colombia’s largest supplier of coal, with exports worth $320 million in the first eight months of last year. The mining agency reports that taxes, royalties, and other payments related to coal exports to Israel contribute around $165 million per year to the treasury. Petro’s decision has broken with decades of warm relations between the two countries, with Israel being a major supplier of weapons to Colombia in the past.
Petro, who took office in 2022, has been a vocal critic of Israel’s conduct in Gaza and has requested that Colombia join South Africa’s case against Israel for genocide at the International Court of Justice. Despite concerns from Colombia’s mining association about the impact on the economy, Petro has pledged to wean the country off fossil fuels and position Colombia as a global leader on climate change, despite oil and coal products making up over half of exports.
Some experts view the decision to suspend coal exports to Israel as shortsighted, as the global market for fossil fuels is shrinking due to a transition to greener energy sources. Sergio Guzmán, director of consultancy Colombia Risk Analysis, believes that Petro’s move could potentially hurt Colombia more financially than Israel. The decision has raised concerns about market confidence and foreign investment in Colombia.
Petro’s actions have also led to tensions with Israel, with Prime Minister Benjamin Netanyahu previously calling him an “antisemitic supporter of Hamas”. This move to suspend coal exports shows a significant shift in Colombia’s stance on the conflict in Gaza and could have long-term repercussions for the country’s economy. As the situation continues to unfold, it remains to be seen how this decision will impact Colombia’s relationship with Israel and its position in the global energy market.
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