‘Illegal and immoral’: How Luxembourg became the EU hub for Israeli war bonds Submitted by Sebastian Shehadi on Thu, 06/11/2026 - 12:23 The grand duchy stepped in to approve bond sales after public pressure forced Ireland to give up the role. Now it faces accusations of complicity in genocide An Israeli tank on the Gaza frontier in September 2025. Israel Bonds have raised $7.7bn since the start of the Gaza war (Jack Guez/AFP) Off On 1 September 2025, a little-noticed administrative decision by the financial regulator of one of Europe's smallest countries set off a legal storm that is still building.