A series of revelations have surfaced, exposing Crown Prince Mohammed bin Salman’s involvement in financing Israeli settlements in the West Bank and enforcing the Gaza blockade, after enabling Israelis to access Saudi public funds.
At the forefront of these revelations is the connection to Jared Kushner, the son-in-law of former U.S. President Donald Trump, and dubbed “the Saudis’ friend in the White House” by The New York Times. Kushner was a staunch defender of bin Salman during his tenure at the White House.
Kushner’s primary focus in the Middle East, particularly in Saudi Arabia, has been to resolve the “Israeli-Palestinian conflict,” which, in practice, means pushing toward normalizing Saudi-Israeli relations.
It is noteworthy that Israeli Prime Minister Benjamin Netanyahu has been a long-time family friend of the Kushners, and the family has made substantial contributions to Israeli nonprofit organizations supporting Jewish settlements in the Palestinian territories in the West Bank.
In April 2022, Business Insider reported that bin Salman invested $2 billion (7.5 billion riyals) into Jared Kushner’s company, despite a report from Saudi Arabia’s Public Investment Fund (PIF) describing Kushner as inexperienced. The deal only proceeded due to the intervention of the fund’s chairman, Mohammed bin Salman.
Jared Kushner established “Affinity Partners” after Trump’s presidency, a firm rejected by both the UAE and Qatar for investment. However, bin Salman led Saudi Arabia into the deal, removing obstacles and doubts to ensure its completion.
In a 2022 interview with Sky News, Kushner expressed his delight that the Public Investment Fund, which invested $2 billion into his firm, “allowed him to invest in Israeli companies.”
More recently, in February of this year (2024), Affinity Partners acquired a 15% stake in Israel’s Shlomo Group’s subsidiary, Shlomo Auto and Credit. The purpose of this investment is to expand the company’s operations from Israel to other parts of the Middle East and North Africa.
Shlomo Group jointly owns Israel Shipyards, a company renowned for manufacturing missile boats, rocket ships, unmanned marine vehicles, and submarines, with 15% of its products delivered to the Israeli Navy in 2023 alone.
The Israeli Navy uses two vessels built by Israel Shipyards along Gaza’s maritime border.
The Shaldag ship played a pivotal role in enforcing the Gaza blockade and participated in numerous attacks, including during the war declared on Gaza last October.
Additionally, the Israeli Navy employs eight Sa’ar 4.5 boats for patrolling off the Gaza coast and implementing the blockade. These boats were operational during the wars of 2008, 2012, and 2014 and contributed to the assault on the Gaza Flotilla, which sought to break the Gaza blockade, resulting in the deaths of 13 activists.
In July of this year (2024), Kushner’s Affinity Partners purchased a $128.5 million (482 million riyal) stake in Israel’s Phoenix Holdings, a financial services firm. This marks Kushner’s second deal in Israel, backed by the Saudi Public Investment Fund.
Looking at Who Profits, we find Phoenix Holdings deeply involved in operations within occupied Palestinian territories. Here’s where bin Salman is channeling Saudi funds:
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- Shikun & Binui Group: Engages in the construction and expansion of settlements and military infrastructure in the West Bank and occupied East Jerusalem, building military bases and surveillance posts around Gaza.
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- Z.M.H. Hammerman Construction and Real Estate: Serves West Bank settlements and has contributed to the construction of multiple settlements in the West Bank and occupied Jerusalem.
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- Formula Systems: A tech solutions provider that operates the control system regulating movement within the occupied West Bank. It collaborated with the Israeli army to develop geolocation technologies for military intelligence in the West Bank.
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- Worked with Israel Aerospace Industries (IAI), a producer of drones used over Palestinian territories, to establish a new data center for the Israeli army.
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- Enlight Renewable Energy: Heavily invested in renewable energy projects in the occupied Golan Heights and the West Bank.
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- Electra Infrastructure: Played a role in military infrastructure projects and settlement expansions in the West Bank, handling sewage treatment facilities and water networks in the settlements.
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- Oron Group: Exploits natural resources in the occupied West Bank, owning a quarry that produces over 2 million tons of aggregate.
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- Helped develop settler-only roads connecting Israeli settlements and building settlements across the West Bank.
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- Afcon Holdings: Supplies metal detection devices used at checkpoints in Hebron and entry points into Gaza, among other places. It provides services to Israel’s Ministry of Defense worth millions and has developed specialized security systems installed at guarded facilities on the Israeli border.
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- G1 Secure Solutions: Provides security personnel and equipment for settlements in the West Bank, operates checkpoints that control Palestinian movement, and contracts with the Israeli army, police, and prisons.
