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HSBC Claims Israel's Elbit Systems Makes Cluster Bombs, But It Doesn't
(Jerusalem Post) Tovah Lazaroff - On Wednesday, the international bank HSBC wrote to the Jerusalem Post in response to a critical editorial, saying, "HSBC's decision to divest from Elbit Systems was not the result of campaigning by the Boycott, Divestment and Sanctions movement....HSBC's decision was based on our long-standing defense policy whereby we do not invest in companies linked to the production or marketing of cluster munitions." However, Elbit's Vice President David Vaknin said the company does not produce cluster bombs. In November, Elbit acquired IMI Systems Ltd., formerly known as Israel Military Industries. Vaknin noted, "As part of the Elbit Systems organization, IMI Systems will not be continuing its prior activities with respect to cluster munitions" and "Elbit Systems [itself] is not engaged in the production of cluster munitions."