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UK has billions in contracts with firms tied to illegal Israeli settlements | Occupied West Bank News

At least 17 companies linked to illegal Israeli settlements in the occupied West Bank hold United Kingdom public-sector contracts worth more than 2.1 billion pounds ($2.85bn), an Al Jazeera investigation reveals.

The findings come as more than 140 UK Labour MPs are calling on the government to ban trade with illegal Israeli settlements, a move Prime Minister Andy Burnham is considering.

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Our analysis of procurement records, company filings and corporate disclosures found that businesses named by the United Nations over their involvement in illegal Israeli settlements – and companies those businesses ultimately own or control as subsidiaries – have secured contracts across the British public sector, including in areas such as road maintenance, transport, emergency services and driving licensing.

“Evidence is growing that the UK may be in breach of its international obligations … by continuing to contract with entities identified by the UN as providing assistance of this sort,” Stephen Humphreys, professor of international law at the London School of Economics, told Al Jazeera.

Data compiled by public procurement analysts Tussell, and shared with Al Jazeera, shows the 17 companies and entities hold 125 public-sector contracts with a combined award value of 2.129 billion pounds ($2.89bn).

Companies owned by Motorola Solutions, the United States technology and communications giant, account for more than 1.7 billion pounds ($2.3bn) of the total – the vast majority through its British subsidiary Airwave Solutions. Other contracts we reviewed are held by firms within four other corporate groups including Heidelberg Materials, a German multinational building materials company; the French engineering group Egis; the Spanish train manufacturer CAF and Chinese conglomerate Fosun.

A report by the United Nations Human Rights Office identifies the five corporate groups as involved in business activities related to illegal Israeli settlements.

Heidelberg Materials’ Israeli subsidiary owns a quarry on Palestinian land in the occupied West Bank, while Motorola is embedded in the security infrastructure of illegal settlements. Egis and CAF are involved in Jerusalem’s expanding light-rail network – a project activists say entrenches Israel’s control by integrating settlements into the city while further fragmenting Palestinian neighbourhoods.

Fosun International, whose subsidiary Breas Medical receives UK public money, also owns the controversial Israeli cosmetics manufacturer Ahava, which operates in the Mitzpe Shalem illegal settlement in the occupied West Bank. Civil rights groups, including the Palestinian Solidarity Campaign in the UK, decry Ahava as a firm that is “complicit” in the theft of Palestinian land and livelihoods.

Meanwhile, violence is escalating in the occupied West Bank.

In July 2024, the International Court of Justice found Israel’s continued presence in the occupied Palestinian territory unlawful and said it must end “as rapidly as possible”. The court also placed obligations on other states “not to render aid or assistance in maintaining the situation created by Israel’s illegal presence in the Occupied Palestinian Territory”.

That raises questions over Britain’s continued commercial relationships with the companies identified in Al Jazeera’s investigation, observers said.

‘UK government is propping up apartheid’

Humphreys believes that Britain may also be failing to meet its legal obligations by “failing to launch its own investigation into their activities, with a view to preventing them if necessary”.

The UK has also warned businesses against bidding for construction tenders in illegal settlements.

“Businesses should not consider bidding for construction tenders,” a government statement issued this month said, warning of “legal and reputational consequences” and the risk of involvement in “serious breaches of international law”.

Former Labour leader Jeremy Corbyn said Al Jazeera’s findings expose a contradiction between the UK’s stated position and its economic ties.

“Quite simply, the UK government is propping up apartheid,” Corbyn told Al Jazeera. “Every day, the UK deepens its complicity in Israel’s economy of occupation and, in turn, Israel’s economy of genocide.”settler attacks

The Cabinet Office told Al Jazeera that individual public authorities make decisions to exclude suppliers case-by-case for each contract. It said public procurement in the UK should not be used to boycott suppliers linked to other countries unless formal UK sanctions, embargoes or restrictions are in place.

Here’s what we found about some of the companies involved in settlement trade:

Motorola Solutions: Tech embedded in illegal settlements

The UN identifies Motorola in connection with two settlement-related activities: the “supply of security services, equipment and materials to enterprises operating in settlements” and the “provision of services and utilities supporting the maintenance and existence of settlements, including transport”.

Al Jazeera contacted the Motorola Solutions group for comment but received no response.

It is the largest beneficiary of UK public money that we investigated.

Motorola’s subsidiaries are entrusted with providing communications equipment to the emergency services in the UK. The largest contract identified by Al Jazeera is held by Airwave Solutions, a Motorola subsidiary. The Home Office awarded Airwave an extension worth 1.562 billion pounds ($2.13bn) to provide the secure communications network used by police, fire and ambulance services across England, Scotland and Wales. Motorola Solutions UK separately holds contracts worth 123.9 million pounds ($170m), including a 36.5-million-pound ($49.8m) Ministry of Defence contract for Airwave radios, accessories and airtime.

Five companies now ultimately controlled by Motorola Solutions Inc – Airwave Solutions Ltd, Motorola Solutions UK Ltd, CRFS Ltd, 3TC Software Ltd and Noggin IT Ltd – hold 91 active UK public-sector contracts worth 1.726 billion pounds ($2.3bn), according to the latest Tussell data.

Motorola Solutions Inc and its Israeli subsidiary, Motorola Solutions Israel Ltd, were included when the UN Human Rights Office first published its database of businesses involved in specified settlement-related activities in 2020. Both remain in its latest version.

Official records provide a glimpse of how the company’s technology has been embedded in settlements.

Tenders from Mateh Binyamin Regional Council and the municipal corporation of Ariel, both illegal settlements, show Motorola command-and-control technology being used in security and surveillance infrastructure.

Motorola equipment has also been bought by the Israeli Civil Administration, the military body through which Israel administers civilian affairs in the occupied West Bank.

In 2005, the UN reported that Motorola supplied surveillance systems to settlements including Hebron, Karmei Tzur and Bracha.

Motorola’s relationship with the Israeli authorities continues today. An Israeli government procurement document obtained by Al Jazeera shows Motorola Solutions Israel was awarded a 25.5-million-shekel ($8.7m) contract in May 2026 to maintain approximately 19,000 police radios and provide encryption licences until April 2028.

Heidelberg Materials: A controversial quarry on occupied land

The UN has listed Heidelberg Materials over the commercial use of natural resources in occupied Palestinian territory.

In Britain, five Heidelberg Materials companies hold 25 public-sector contracts worth 184.79 million pounds ($252m). Almost all of that – 179.03 million pounds ($244m) – is held by Hanson Quarry Products Europe Ltd. Its contracts include 60 million pounds ($81.9m) from Westmorland and Furness Council for road surfacing and highway works between 2024 and 2027, and a 50-million-pound ($68.3m) surfacing maintenance contract with Somerset Council.

Its Israeli subsidiary, Hanson Israel, owns the Nahal Raba quarry, south of Qalqilya in the West Bank. The quarry sits on land belonging to the Palestinian villages of az-Zawiya and Rafat, according to Who Profits.

An official Civil Administration planning notice reviewed by Al Jazeera shows a proposal was approved to expand the site.

Who Profits, a group that researches links between the private sector and the economy in the Israeli-occupied territories, said the approval was granted on May 28, 2025.

Heidelberg told Al Jazeera that in 2023, Hanson Israel “ceased all activities at the Nahal Raba quarry and the associated asphalt plant and ready-mix concrete plant”, adding that only security personnel are present on site.

Egis: Selling transport infrastructure that supports settlements

French engineering group Egis provides another type of connection via transport infrastructure linking illegal Israeli settlements in occupied East Jerusalem with the rest of the city.

The UN lists Egis in connection with the “provision of services and utilities supporting the maintenance and existence of settlements, including transport”.

Egis’s own material shows that its involvement in Jerusalem’s expanding light-rail network continues today, with the company website advertising a job for an engineering expert based in Jerusalem on its light-rail projects.

A general view shows Jerusalem's light rail tram as it passes by the old city's walls in Jerusalem November 13, 2014. If there has been a constant target of Palestinian attacks during weeks of unrest in Jerusalem, it is the city's Light Rail, a sleek tram that snakes through downtown, past the ancient walls of the Old City, symbolically uniting the Jewish West and the Arab East, an area Israel captured in a 1967 war. Launched in 2011, the project was hailed as a piece of infrastructure that would transform the city, bringing Israelis and Palestinians closer through shared public rail transport. While in some ways that has happened, the past few months have torn that cosmopolitan picture apart. Picture taken November 13, 2014. REUTERS/Ronen Zvulun (JERUSALEM - Tags: TRANSPORT POLITICS CIVIL UNREST TPX IMAGES OF THE DAY)ATTENTION EDITORS: PICTURE 01 OF 26 PICTURES FOR WIDER IMAGE STORY 'RIDING THE FINE LINE'
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A general view shows Jerusalem’s light rail tram as it passes by the old city’s walls in Jerusalem November 13, 2014 [Ronen Zvulun/Reuters]

Jerusalem Transportation Master Plan procurement documents from 2017 also identify Egis Rail as its general consultant, responsible for supervising and coordinating planning and design work on the Blue and Green lines.

Jerusalem’s light rail crosses into occupied East Jerusalem and links illegal Israeli settlements there with West Jerusalem. UN reports have described the railway as “additional infrastructure serving the illegal settlement network” and said it further isolates occupied East Jerusalem from the rest of the occupied West Bank.

Egis told Al Jazeera it “formally expressed its disagreement with this inclusion” in the UN database.

In Britain, five companies and entities controlled by Egis hold six public-sector contracts worth 133.60 million pounds ($182.4m). Almost the entire amount comes from a single contract, with the Driver and Vehicle Licensing Agency awarding Egis Projects UK Ltd a 133.23-million-pound ($181.9m) contract for enforcement services across Britain. Egis businesses also hold UK public contracts, including Galson Sciences, Helios Technology, Egis Transport Solutions and architecture practice WestonWilliamson+Partners.

CAF: Constructing project to continue into 2027

Spanish train manufacturer CAF is also involved in Jerusalem’s light-rail network. The company has disclosed that the 1.8-billion-euro ($2.10bn) Jerusalem project was awarded in 2019 to TransJerusalem J-Net Ltd, a firm owned 50 percent by CAF and 50 percent by Israeli construction business Shapir.

CAF said the project includes construction of the Green Line and extension of the existing Red Line, “which partially run through East Jerusalem”. The construction phase is expected to continue until 2027.

The UN identifies CAF over the “supply of equipment and materials facilitating the construction and the expansion of settlements” and the “use of natural resources, in particular water and land, for business purposes”.

Al Jazeera contacted CAF for comment but received no response.

Meanwhile, CAF has an extensive relationship with Britain’s public sector, including supplying trams for one of the country’s major urban networks. The West Midlands Combined Authority awarded CAF an 83.5-million-pound ($114m) contract for a new generation of trams for the West Midlands Metro. The contract runs until December 2027, according to Tussell data.

Fosun: Owner of a cosmetics company accused of excavating Dead Sea mud in occupied territory

Chinese conglomerate Fosun International is identified by the UN under the category covering the commercial use of natural resources, particularly water and land.

Its connection to the occupied West Bank centres on Israeli cosmetics manufacturer Ahava Dead Sea Laboratories. Fosun itself announced in April 2016 that it had agreed to acquire Ahava for 290 million shekels ($76.8m).

Fosun’s subsequent statutory reporting recorded Ahava as 99.46-percent owned.

A European Commission statement in 2018 said Ahava “does have operations in the settlement Mitzpeh Shalem, located in Occupied Territories”.

According to the Quaker-founded organisation, American Friends Service Committee (AFSC), repeated site visits confirmed that Ahava’s former factory in the illegal Mitzpe Shalem settlement remained operational as of 2026.

The group said Dead Sea mud was excavated in the occupied Palestinian territory and initially processed at the site before being transferred to Ein Gedi for further production.

In Britain, Breas Medical, which is ultimately owned through Shanghai Fosun Pharmaceutical by Fosun International, holds two public-sector contracts worth 1.29 million pounds ($1.76m). Fosun International is the controlling shareholder of Shanghai Fosun Pharmaceutical.

Al Jazeera contacted Fosun for comment but received no response.

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Pentagon seeks billions from Congress as concerns grow over Iran war

The Trump administration urged Congress on Tuesday to approve roughly $70 billion in emergency defense funding to sustain U.S. military capabilities amid its escalating war against Iran, warning that without it the Pentagon could face “critical shortfalls” disrupting its readiness.

The request comes as the United States and Iran have traded strikes for 10 consecutive days in a renewed conflict, deepening concerns in Washington over an expanding war that could inflame the global economy and trap the president in a quagmire.

The collapse of a ceasefire agreement and the sudden resumption of war have raised alarms within the Pentagon over its ability to protect U.S. forces and assets in the Middle East over a prolonged conflict, with defensive munitions in dangerously short supply, two Defense Department officials told The Times.

Yet the administration is facing bipartisan skepticism from lawmakers over the continuation of a war unpopular with a vast majority of Americans, over which they have had little oversight, and that in recent days has led to deaths of U.S. soldiers.

Those tensions became clear as Defense Secretary Pete Hegseth and Gen. Dan Caine, the chairman of the Joint Chiefs of Staff, testified before the Senate Appropriations Committee to make their case for the tens of billions of dollars and offer their first in-depth public remarks about the war since May.

Hegseth told senators the United States is at a “moment where we cannot afford inaction,” while Caine argued the funding request is coming to Congress “while time is still on our side.”

“It is critical that we stay ahead of our adversaries and we must have the funds before we are out of time,” Caine said.

Hegseth said the war is now expected to cost Americans $37.5 billion, up from a $29-billion estimate from early May. The war, initially projected by President Trump to last four to five weeks, is now entering its fifth month.

With no end in sight, senators from both parties signaled frustrations with the administration’s plans.

Sen. Patty Murray (D-Wash.), the top Democrat on the Appropriations Committee, said Democrats will not support more funding for the war.

“This administration’s refusal to explain what it is doing, or how this war is protecting Americans, its refusal to seek authorization from Congress, and its expectations that Americans will just pay for it all without any explanation or transparency is disrespectful,” she said.

Republican lawmakers also confronted Hegseth and Caine on several fronts.

Sen. John Kennedy (R-La.) told the Pentagon leaders that lawmakers “need some proper answers and some straight talk” about the administration’s plans to ensure Iran does not choke traffic through the Strait of Hormuz.

Asked whether Iran would impose tolls on merchant vessels passing through the vital waterway, Caine said it was a “hypothetical” scenario — a response Kennedy rejected.

Sen. Lisa Murkowski (R-Alaska) also put pressure on Hegseth, as she asked him whether the administration was still taking the position that it needed no authorization from Congress to continue hostilities against Iran.

“Senator, I know there’s a long-standing legal debate on this particular topic, but we certainly at the department share the position with the White House that we have all the necessary authorities at this moment,” Hegseth said.

Murkowski’s remarks come just weeks after Republicans joined Democrats in both the House and Senate in voting to reassert Congress’ constitutional role over the war, underscoring the simmering tensions over Trump’s decision to sideline Congress in the matter.

Hours before the hearing, Trump downplayed concerns over the war’s effect on the midterm elections and further threats in the war, as Houthis, the Iran-backed militia in Yemen, declared a maritime blockade Monday on Saudi Arabia.

“So far, it hasn’t happened. It might happen but we take care of things, if something like that happens,” Trump told reporters in the Oval Office.

Trump maintained that Iranian leaders are “desperately” trying to reach a deal to end the war but said he has no interest in meeting with them until he is convinced the talks will be “meaningful.”

“If we left right now, it would take Iran 20 to 25 years to rebuild. We are not finished at all,” Trump said. “We are not leaving right now.”

A protester holds a sign that says: No war on Iran

A protester interrupts Defense Secretary Pete Hegseth as he testifies at Tuesday’s hearing.

(Jacquelyn Martin / Associated Press)

Asked if he thought Iran was trying to have an effect on the midterm elections by threatening the Strait of Hormuz, Trump said, “probably.”

“It won’t have any impact on me,” he said. “The election, I can’t think about that having to do with this.”

An agreement reached in June between the United States and Iran proposed an end to a U.S. naval blockade of Iranian ports and to U.S. sanctions on Iranian oil exports in exchange for Tehran allowing unfettered commercial shipping traffic through the Strait of Hormuz. But the agreement fell apart, with Iran firing on commercial vessels and pursuing a toll system for transit that had not existed before the war started.

The deal was supposed to set up a structure for more detailed negotiations on Iran’s nuclear program, a prime target of the U.S. campaign launched in February in partnership with Israel.

Much of Iran’s nuclear infrastructure was degraded in a U.S. strike conducted last year that targeted three major facilities. But the fissile material required to build nuclear weapons remains in the country, under the watch of U.S. satellite surveillance. Iran has vowed to continue pursuing civilian nuclear work.

“How about these people? They’re in this because of nuclear weapons, and they’re trying to possibly reconstitute a site? We’ll hit that site. Any site where they’re even thinking about nuclear — we’ll be hitting it very, very powerfully,” Trump said.

As the war expands, there’s been heightened concern about the infrastructure that civilians in neighboring countries rely on for water and power.

Iranian officials said U.S. strikes hit the Bunji desalination plant on Iran’s southeastern coast, leaving 20 villages — where some 10,000 people reside — without water, according to reports from Iran’s semi-official news agency Tasnim.

Meanwhile, the Kuwaiti government said its power plants and desalination plants were struck by Iran on Monday — the fourth consecutive day of attacks on a key source of drinking water for the small desert nation.

The attacks spurred the Kuwaiti government over the weekend to launch an ad campaign calling on residents to reduce their water and power usage, especially during peak hours between 11 a.m. and 5 p.m.

A concerted campaign targeting desalination plants would be devastating both for Iran and the Persian Gulf nations it has peppered with drones and missiles since the start of the war.

Bahrain, Kuwait, Oman, Qatar, the Emirates and Saudi Arabia are among the world’s eight most water-stressed countries. Israel ranks 9th, while Iran is 14th, according to the Washington, D.C.-based Water Resources Institute.

All of them suffer from “absolute water scarcity,” according to metrics used by the U.N.’s Food and Agriculture organization.

Times staff writer Nabih Bulos in Beirut contributed to this report.

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NATO unveils billions in arms deals to prove its firepower as Trump arrives in Ankara

President Trump said on Tuesday that the U.S. will lift sanctions on Turkey that were issued after Ankara purchased a Russian missile defense system that led to the country being kicked out of the F-35 fighter jet program.

There are still a number of legal hurdles before Turkey could be fully admitted back to the U.S. program, but the removal of the sanctions — issued under the Countering America’s Adversaries Through Sanctions Act — would help ease the process for Ankara to regain access to the F-35s, a top goal of Turkish President Recep Tayyip Erdogan and one that Trump has predicted for some time would occur.

“We’re going to be taking the sanctions off, OK?” Trump said in response to a question during a meeting with Erdogan at the presidential palace in Ankara. He said Cabinet officials were working on the matter. Earlier in the meeting, he said the possibility of selling the F-35s to Turkey is “certainly something we will consider.”

Trump and Erdogan repeatedly underscored their warm relationship as they met soon after the U.S. president arrived in Ankara for the NATO summit. Erdogan greeted the U.S. president with an elaborate welcome ceremony involving cannons, military officials on horseback and jets flying overhead emitting red, white and blue smoke.

“Sometimes you get along with the toughest people, like him,” Trump said, gesturing to Erdogan. The U.S. president repeatedly praised Turkey for its loyalty to the U.S., particularly during the war in Iran.

Trump, who has often upended NATO gatherings with complaints that European allies did not spend enough on defense, had said he would not have attended this year’s summit had it not been for his close ties with Erdogan.

‘Moment of great pride’

Earlier in the day, NATO showcased a series of military projects worth billions of dollars — an investment that the alliance’s secretary-general, Mark Rutte, called “money well spent.”

An energized Rutte was speaking to government ministers and defense industry officials at a forum billed as NATO’s “big reveal,” to the thrum of techno music and a slick video display.

NATO as an organization does not own any weapons — these are the property of the 32 member countries — but it does have a fleet of 14 AWACS early warning radar surveillance planes that are about 50 years old, along with some newer surveillance drones.

A deal to replace the aging planes was announced Tuesday. Swedish manufacturer Saab will be supplying up to 10 new GlobalEye surveillance aircraft for a 10-nation consortium, Swedish Prime Minister Ulf Kristersson announced.

“It’s a moment of great pride,” he said, noting that the twin-engine aircraft would be “made within the alliance for all the alliance.”

Some of the projects will be paid for with funds from a system of cheap loans for defense purposes set up by the European Union, comprising up to $170 billion raised on capital markets.

“We need to ensure that we are translating our economic might into military capabilities, putting the cash to work from defense plans to drones, from money to missiles and interceptors,” Rutte said.

Trump has branded NATO a “paper tiger” that would cease to function without American arms and leadership. At the forum on Tuesday, Michael Duffy, a U.S. undersecretary of defense, said “the reality is that we need production increases across the board.”

“We will be looking to increase our exports to those who are looking to buy our equipment, and we’ll also be looking to partner with the expansion of production capacity here in Europe,” he said.

Defense sales announced

Representatives from 15 nations shook hands and patted shoulders on a vast podium under the NATO logo as they announced a multinational effort to buy air-to-air refueling and transport planes from Airbus.

Then Rutte announced a four-country effort to purchase as many as five new Triton surveillance drones to add to NATO’s small fleet.

“It is genuinely made in NATO, and creating jobs on both sides of the Atlantic,” he said.

Rutte told reporters on the eve of the military alliance’s two-day summit in Turkey that “we will announce tens of billions in new contracts that will provide the crucial kit we need to deter and defend.”

However, at Tuesday’s event, no dollar figures were given and the display included some projects long since agreed.

The defense industry splash comes a few weeks after Rutte tried to ease U.S. concerns about military spending at NATO with a new pitch using a chart labeled “The Trump Trillion” — showing $1.2 trillion in spending by European allies and Canada since 2017.

Trump appeared unmoved, saying he was still disappointed at some NATO allies’ refusal to join the Iran war, which he had launched alongside Israel without consulting them.

“We don’t need their money — we don’t need anything,” Trump said. “I just want loyalty.”

Debate over jet sales to Turkey

The summit is being held in Erdogan’s sprawling palace compound in Ankara, and Trump has suggested he would come bearing gifts for the Turkish leader.

Turkey was barred from the F-35 fighter jet program in 2019 after it purchased Russian-made S-400 missile defense systems. When asked about the fate of Turkey’s return to the F-35 system, Trump said as he sat next to Erdogan that “it’s certainly something we will consider.

Speaking Monday on the morning show “Fox & Friends,” Israeli Prime Minister Benjamin Netanyahu urged the U.S. not to sell F-35 fighter jets to Turkey, saying that Erdogan “calls openly for the annihilation of Israel.”

Turkey and Israel have acrimonious relations. Erdogan frequently accuses Israel of committing genocide in its war in Gaza, triggered by the deadly Oct. 7, 2023, Hamas-led attack on southern Israel.

Netanyahu said selling Turkey F-35s would “upset the power balance in the Middle East, which is ultimately guaranteed by Israeli air superiority and also, I think, by America’s posture in the Middle East.”

Turkey beefed up security and banned protests in Ankara during the summit, but a small group of demonstrators gathered on Tuesday in the capital. They were quickly surrounded by police, and a legal association said 22 students affiliated with the leftist Turkish Workers Party and three lawyers had been detained.

Seeking a stronger Europe for a stronger NATO

The Pentagon wants a reboot and is promoting what it calls “NATO 3.0,” a vision of the alliance in which Europe assumes greater responsibility for its own defense, freeing the U.S. to concentrate on other priorities.

But hiking defense spending means increasing taxes or diverting resources from other priorities. U.K. Defense Secretary John Healey unexpectedly quit last month, saying the British government was not willing to spend at a time of rising threats.

Separately on Tuesday, Ukrainian President Volodymyr Zelensky made a fresh appeal for his country to be allowed to join the alliance, saying its armed forces are highly experienced and resilient would only boost the alliance’s defense capabilities.

He highlighted Ukraine’s adaptability and its ability to strike deep inside Russia, hit oil refineries and other energy targets. He said that Ukraine’s armed forces are “eliminating” on average 30,000 Russian troops every month.

“Frankly we take no pride in this,” Zelensky said, noting that the war with Russia — now in its fifth year — is “a war we did not seek but one we are forced to fight.”

Concern is mounting among some northern and central eastern countries that Russia might be preparing a hybrid attack — a combination of conventional warfare with tactics like cyberattacks — on the continent as Russian President Vladimir Putin struggles to secure victory in Ukraine.

Cook, Fraser, Sewell and Kim write for the Associated Press. AP writers Jill Lawless in London and Andy Wilks in Istanbul contributed to this report.

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Trump disclosure shows billions in income after return to White House

June 30 (UPI) — President Donald Trump reported billions of dollars in income, revenue and other proceeds during his first year back in the White House, much of it tied to cryptocurrency ventures, according to his annual financial disclosure released Tuesday.

Trump reported at least $2.1 billion in income, revenue and other proceeds last year, according to his financial disclosure made public by the U.S. Office of Government Ethics, with more than half tied to cryptocurrency.

Though Trump was initially skeptical about cryptocurrencies,, he embraced the digital currencies — and their supporters — during his third campaign for the White House. After being elected, he created what some analysts have called a crypto-friendly administration.

During his first year in office, he took several actions in support of the crypto industry, including signing a digital-assets executive order during his first week in office and creating a strategic Bitcoin reserve and U.S. digital asset stockpile.

The 927-page financial disclosure states the president reported more than $1.4 billion in cryptocurrency income and proceeds, including $635 million from his $TRUMP meme coin and nearly $800 million from World Liberty Financial, a Trump family-linked cryptocurrency venture.

The $TRUMP memecoin was a cryptocurrency Trump announced days before his inauguration. He announced the $MELANIA memecoin the day before he was inaugurated.

Memecoins are cryptocurrencies with little to no intrinsic utility, often derived from Internet memes and supported by online communities or fans.

After Trump announced the coins, critics accused him of attempting to profit from the presidency.

The disclosure also shows that Trump reported tens of millions in revenue from golf, resort and real estate-related holdings, including $121.9 million from Trump Doral, $77.5 million from Mar-a-Lago, $37.6 million from his Lamington Farm Club, $36.9 million from Trump International Golf Club in West Palm Beach and $31.6 million from his Jupiter Golf Club, among others.

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