27 June, 2014 Ha’aretz (behind paywall)
Nations join France, U.K. and Germany in advising against legal and financial risks
According to the announcements made by Spain and Italy, the European Union and its member states do not recognize Israeli rule in the West Bank, East Jerusalem and the Golan Heights, which were conquered in 1967, and regard the settlements as illegal in international law.
For this reason, the announcements stated, private companies doing business, transferring funds, investing money, signing contracts, buying land or receiving tourist services from companies in the settlements would be taking legal and financial risks. “The current situation could lead to disputes over land, water, quarries or natural resources that were acquired or in which money was invested,” read the statement from the Spanish Foreign Ministry. “Companies must take into account that [financial activity in the settlements] is liable to lead to their involvement in breaking international law and violating human rights.