How British banking giant Barclays was forced to divest from top Israeli arms firm

By Maryam Qarehgozlou

The facade of the imposing building presents a striking scene: entirely coated in red paint that drips down its walls, encircles by caution, with broken glass scattered across the ground.

The blue Barclays signage bears strikingly distinct red paint splashes, amplifying the dramatic effect.

This powerful scene conveys a powerful message from Palestine Action, a UK-based pro-Palestinian protest network that uses direct action to disrupt and shut down multinational arms dealers, particularly those providing weapons to the Israeli regime for use in Gaza and Lebanon.

In a recent victory, the group announced on Thursday that British banking giant Barclays has divested all of its shareholdings in the Israeli regime’s largest weapons manufacturer Elbit Systems following a sustained campaign led by Palestine Action and local community groups targeting Barclays' premises.

Palestine Action said its activists had conducted a year-long intensive campaign involving at least 54 direct actions targeting Barclays' premises across the United Kingdom.

“Smashing branch windows, spraying them in blood-red paint, many of these actions put Barclays sites out of operation for weeks, actions which sought to raise the costs associated with dealing with Elbit,” the statement noted, marking a major landmark in the fight against the Israeli occupation.

These direct actions were part of Palestine Action’s four-year campaign against Elbit Systems and its financial and industrial partners deeply involved in the massacres of Palestinians.

As a major arms supplier to the Israeli military, Elbit Systems provides the majority of Israel’s drones, as well as mortar munitions and artillery rockets that have been used in the ongoing genocidal war on Gaza, where more than 43,400 Palestinians, most of them women and children, have been killed.

‘Dealing in genocide is costly’

The successful campaign against Barclays culminated in a coordinated nationwide action with 'Shut the System' on June 10, 2023.

In a single night, Palestine Action activists smashed windows and drenched 20 Barclays branches in red paint, marking a dramatic escalation and bringing attention to the bank’s ties to Elbit Systems.

It reported that Barclays “abruptly” sold its Elbit Systems shares when the campaign “hit them hardest.”

According to Palestine Action, in the latest US Securities and Exchange Commission (SEC) filings, Barclays reported owning 0 shares of Elbit Systems from 16,345 shares since the previous filing on May 15, 2024, valued at over $3,400,00.

Barclays held shareholdings worth over £ 1.5 billion in companies complicit in the year-long genocide in Gaza, based on initial research published in July 2022 by Campaign Against Arms Trade, War on Want, and Palestine Solidarity Campaign.

British police claimed that the damage to Barclays branches during these actions is estimated to be between £250,000 and £500,000.

Additionally, the targeted actions by Palestine Action activists forced many bank branches to close for extended periods, causing significant financial disruptions and losses.

Palestine Action has clearly defined its strategy, which is "to make the cost of dealing in genocide, occupation, and apartheid exceed the potential to profit from it.”

‘Citizen activism works’

Following Palestine Action’s successful campaign to pressure Barclays into divesting from Elbit Systems, social media platforms have been flooded with support for the group’s persistent efforts.

Netizens said that the achievement proves the effectiveness of grassroots efforts and dedicated activism in support of the Palestinian cause, citing the case of Barclays as an example.

“Don’t let anyone tell you citizen activism doesn’t work. FINALLY. After years of pro-Palestine citizen activism, Barclays has sold all its shares in Israeli company Elbit Systems,” a social media user with the handle PalBint wrote on X, formerly Twitter.

“McDonald’s losing sales, Barclays divesting from Elbit systems… who says protesting & boycotts don’t work?” wrote another user on X.

“After a full year of action, Palestine Action forces Barclays to sell all of its investments in Israeli weapons manufacturer Elbit Systems. This is incredible news. Well done to all involved!” wrote another user under the handle ecomarxi.

“Did someone say boycotts don’t work?” an anti-Zionist human rights activist going by the handle Humanityclouded wrote on X.

Halting Elbit’s ‘genocidal operations’

The Palestine Action campaign, which has intensified amid the genocidal war on Gaza, has already been successful in forcing the permanent closure of two Elbit weapons factories in the UK.

The group’s activism has also led several partners to halt their relationships with Elbit.

In January 2022, Elbit Systems was forced to sell Ferranti Technologies in Oldham, Greater Manchester, following 18 months of sustained direct action and protests by pro-Palestinian activists.

In March, persistent direct action by Palestine Action led to a significant victory in the fight against the Israeli arms trade as Elbit Systems was compelled to sell their “Elite KL” factory in Tamworth, Staffordshire, due to sustained pressure from the activist group.

Recently, activists targeted over a dozen UK premises of Allianz, the world’s largest insurance firm, a major financial backer of Israel’s arms trade and insurer of Elbit Systems.

“Nationwide, Allianz branches have been sprayed in a symbol of the Palestinian bloodshed by Palestine Action,” the group said.

A spokesperson for Palestine Action said the group remains committed to targeting any businesses or institutions that enable Elbit to continue its “genocidal operations.”

“That means, if Barclays does reinvest into Elbit Systems in the future, Palestine Action will come knocking again.”

'Elbit 8': Palestine Action activists win legal fight for disrupting Israeli arms trade

A group Palestine Action activists, known as

‘Scare tactics won’t intimidate activists’

Throughout the campaigns led by Palestine Action, numerous activists associated with the campaign have faced arrests during protests against Elbit Systems’ premises or its partners.

Palestine Action activist Francesca Nadin, 38, has been on remand since June 27 and is currently imprisoned in HMP New Hall.

She is facing charges of “conspiracy to commit criminal damage” following her alleged involvement in actions targeting Barclays and JP Morgan banks in Leeds.

In a letter she wrote from the prison on September 9, Francesca said she remains determined and resilient despite her difficult circumstances.

She said a judge openly admitted to using her case as an example to deter others from similar actions, but Francesca believes that this only serves as motivation to keep fighting for justice.

“One judge even admitted he had to “make an example” of us – to humiliate and intimidate us – in order to scare others from taking similar action.

“But we won’t be discouraged. This is proof we’re hitting them where it hurts. They punish us because they’re scared.

“They know our actions are costing their precious corporations – Barclays is under immense pressure, Elbit Systems is being chased out, and Scotia Bank is feeling the heat of its complicity,” she added.

Francesca noted that such “scare tactics” will not work and are just a “rallying call” for the activists.

“I no longer fear the police, the judges, or their absurd interpretation of the law. Inside or outside prison, I will keep fighting, and so will all of us, fearless, united, with justice and love in our hearts” she concluded.

On Sunday, protestors gathered outside a prison in West London to demand the release of activists from the Palestine Action group who have been illegally and arbitrarily held.

Members of the group, dubbed the ‘Filton 10’, caused an estimated one-million-pound worth of damage to a factory belonging to Israel’s largest arms company Elbit Systems.

They have been held on terrorism charges—separate from their actual conviction of burglary and damage for causing £1 million in damages to the Elbit weapons factory.

Palestine Action's co-founder Richard Barnard was also arrested recently after expressing support for the Palestinian resistance against the Israeli genocide.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.ir