In an interview with Euronews, EU Foreign Policy chief Kaja kallas confirmed the strategy to suspend trade related provisions within the Israel-EU Association Agreement.
Trade between the EU and Israel was €42.6 billion in 2024, the preferential treatment is around 37 percent of that, the HRVP confirmed.
"So it is a significant amount and when it comes to the preferential treatment, then 37% of that trade, really has the preferential treatment", Kallas told Euronews.
"So definitely this step will have a high cost for Israel", she said.
The plan to target Israeli trade with the EU was announced by President of the Commission Ursula von der Leyen last week and the Commission is due to formally agree to the proposals on Wednesday.
The matter must be agreed among a qualified majority of member states, meaning at least one of the larger countries – Germany or Italy will have to support the bid if it is to succeed.
So far, both countries have blocked all proposals at EU level aimed at pressuring Israel into changing the course of the war.
She said if the countries blocking the progress of measures don't agree with the plan on the table then she urged them to come up with alternatives, especially if they acknowledge the situation on the ground in Gaza is "untenable."
euronews.com