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As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now
(JTA) — As much of the financial world increasingly eyes political developments in Israel with concern, a company that specializes in assessing investments based on social responsibility criteria made a special announcement Wednesday in which it declared Israel “a low-risk country.”
That designation is both a signal to investors that they are unlikely to get entangled in human rights abuses or other scandals if they put their money in Israel, and a reassurance intended for pro-Israel advocates who have accused the company of bias against Israel.
The announcement from the multibillion-dollar Chicago-based financial research firm Morningstar is the latest entry in a debate about how companies around the world should regard the Israeli-Palestinian conflict. One side says that Israel should be treated as regular Western democracy and the other says that Israel’s treatment of the Palestinians should put the country in the class of authoritarian regimes.
But another debate about Israel’s investment worthiness has emerged in recent months following the election of a new Israeli government led by Benjamin Netanyahu, whose slim parliamentary majority relies on the support of parties with far-right platforms.
Netanyahu, who is on trial for corruption, has vowed to overhaul Israel’s judicial system and rein in the independence of the courts. Many financial analysts consider a weakened judiciary a red flag for investors.
Sarah Wirth, a spokesperson for Morningstar, said that its analysis designating Israel a low-risk country does not yet account for recent developments in Israel.
“Some of the changes developing in Israel may impact their Country Risk Rating once we incorporate them into our analysis,” Wirth wrote in an email to the Jewish Telegraphic Agency in reference to the judicial reform plan.
The latest warning about Israel’s place in the global economy emerged Friday with the leak of an internal report written by JPMorgan, one of the largest banks in the world.
The report compared Israel to Poland, which passed a similar judicial reform in 2016 and saw a downgrade to its credit rating, which was a major blow because national credit ratings can either attract or drive away investments from abroad.
JPMorgan analysts wrote that Israel’s credit rating still “stands comfortably in the investment grade bucket” but that Netanyahu’s plan could cause it to go down.
The report adds to a warning by another Wall Street giant, Goldman Sachs, which said last week that the Israeli shekel could be affected by “growing concern over domestic political developments.”
“The five most recent elections over the past three-year period have had typically limited read-through to financial markets,” Goldman Sachs economist Tadas Gedminas wrote in a report. “This is not to say that the current situation could not have a more meaningful impact this time around, and we will closely monitor ongoing developments.”
Netanyahu has rejected criticism of his judicial plan by saying that the proposed reforms are being misrepresented by his critics and that they would merely bring Israel’s courts in line with courts in other Western countries. The plan would limit the ability of the Supreme Court to rule laws and government actions as unconstitutional, give the government control over the appointments of new judges and end the independence of the position of legal advisor across various government offices, among other measures.
Netanyahu has also said that regardless of the warnings by analysts, international investors are excited about Israel and eager to acquire equity in Israeli companies. His latest pronouncement came from France where he said he met with 60 local business leaders.
“What they’re saying about investors running away is nonsense,” Netanyahu said. “We want to increase our investments in Israel.”
Some of Israel’s own business leaders are concerned enough about the country’s direction that they are choosing to decamp. The CEO of tech company Verbit, which was valued at $2 billion in 2021, announced Tuesday that he would leave the country to avoid paying millions in taxes as a protest of the judicial overhaul plan.
“Over the past few years, I’ve paid tens of millions of dollars in taxes and my company has paid hundreds of millions in taxes,” Verbit CEO Tom Livne said on Israel’s Channel 12. He encouraged others in Israel’s vaunted tech sector to do the same.
Livne’s announcement comes about a week after two Israeli tech firms, including one that was valued at $3.7 billion in 2021, said they would withdraw assets from Israel for the same reason.
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Trump Wants Say on Iran’s Next Leader, Claims Tehran Calling US About a Deal
US President Donald Trump speaks on the day he honors reigning Major League Soccer (MLS) champion Inter Miami CF players and team officials with an event in the East Room of the White House in Washington, DC, US, March 5, 2026. Photo: REUTERS/Jonathan Ernst
US President Donald Trump claimed the right to join Iran in deciding its next leader as the war escalated on Thursday, with US and Israeli jets hitting areas across the country and Gulf cities coming under renewed bombardment.
In a phone interview with Reuters, Trump said Mojtaba Khamenei, the son of the late Supreme Leader Ali Khamenei – a hardliner who has been considered a favorite to succeed his father – was an unlikely choice.
“We want to be involved in the process of choosing the person who is going to lead Iran into the future,” he said.
Trump also encouraged Iranian Kurdish forces to go on the offensive.
“I’d be all for it,” said Trump, whose administration has had contact with Iranian Kurdish groups since the US-Israeli strikes began. He would not say whether the United States would provide air cover for any Kurdish offensive.
The attack is a major political gamble for the Republican president, with opinion polls showing little public support and Americans concerned about the rise in gasoline prices caused by disruption to energy supplies. Trump dismissed that concern.
He said later in the day that Tehran was reaching out to the United States about making a deal amid US and Israeli strikes on Iran, adding that further action to reduce pressure on oil was imminent.
“They’re calling, they’re saying ‘how do we make a deal?’ I said you’re being a little bit late,” said Trump, speaking at an event with the Inter Miami soccer team at the White House.
Trump touted the US military actions in Iran, saying they were destroying Tehran’s missile and drone capability and that “their navy is gone – 24 ships in three days,” as he called on Iranian diplomats to request asylum and help shape a better country.
“We also urge Iranian diplomats around the world to request asylum and to help us shape a new and better Iran,” he said.
ISRAELIS WARN TEHRAN RESIDENTS
On the war’s sixth day, Iran launched a series of attacks on Israel, the United Arab Emirates, and Qatar. Fire crews in Bahrain extinguished a blaze at a refinery following a missile strike.
Two drone attacks targeted an Iranian opposition camp in Iraqi Kurdistan, as well as an oil field operated by an American firm, security sources said.
The Israeli military warned residents to evacuate areas including eastern Tehran, while Iranian media reported blasts were heard in various parts of the capital. An air attack killed 17 people in a guest house on a road northwest of the capital, Iranian state television said.
MANY MUNITIONS, IRAN‘S ATTACKS DROPPED
US Defense Secretary Pete Hegseth and Admiral Brad Cooper, who leads US forces in the Middle East, said that the US has enough munitions to continue its bombardment indefinitely.
“Iran is hoping that we cannot sustain this, which is a really bad miscalculation,” Hegseth told reporters at Central Command headquarters in Florida. “Our munitions are full up and our will is ironclad.”
Cooper said the US had now hit at least 30 Iranian ships, including a large drone carrier that he said was the size of a World War Two aircraft carrier. He added that B-2 bombers had in the past few hours dropped dozens of 2,000 penetrator bombs targeting deeply buried ballistic missile launchers, and that bombings were also targeting Iran‘s missile production facilities.
Iran‘s ballistic missile attacks had decreased by 90% since the first day of the war, while drone attacks had decreased by 83% in that time frame, he said.
WARNING SIRENS BLARE IN MULTIPLE NATIONS
Azerbaijan on Thursday became the latest country drawn in, as it accused Iran of firing drones at its territory and ordered its southern airspace closed for 12 hours. Iran, which has a significant Azeri minority, denied it had targeted its neighbor, but the episode underlined how rapidly the war has spread since the surprise US and Israeli airstrikes that killed Khamenei on Saturday.
Along with the gleaming cities of the Gulf, in easy range of Iranian drones and missiles, Cyprus and Turkey have both been targeted. European nations have pledged to deploy ships to the eastern Mediterranean and hostilities have been seen as far afield as waters off Sri Lanka, where a US submarine sank an Iranian warship on Tuesday, killing 80 crew members.
In Iran, at least 1,230 people have been killed, according to the Iranian Red Crescent Society, including 175 schoolgirls and staff killed at a primary school in Minab in the country’s south on the first day of the war. Another 77 have been killed in Lebanon, its Health Ministry says. Thousands fled southern Beirut on Thursday after Israel warned residents to leave.
NETANYAHU SAYS ‘MUCH WORK STILL LIES AHEAD’
Shares on Wall Street fell on Thursday, weighed by surging oil prices, as the economic impact of the campaign intensified, with countries around the world cut off from a fifth of global supplies of oil and liquefied natural gas and air transport still facing chaos and global logistics increasingly snarled.
On Thursday, Iran‘s Revolutionary Guards said they had hit a US tanker in the northern part of the Gulf and the vessel was on fire, the latest of numerous reports of such attacks.
Visiting an air force base in the south of the country, Israeli Prime Minister Benjamin Netanyahu said Israel’s achievements so far in Iran had been “great” but that “much work still lies ahead.”
Iran‘s foreign minister said Washington would “bitterly regret” the precedent it had set by sinking a ship in international waters without warning. A commander of the Revolutionary Guards, General Kioumars Heydari, told state TV: “We have decided to fight Americans wherever they are.”
The body of Supreme Leader Ayatollah Ali Khamenei, killed in the first hours of the US-Israeli air campaign in the first assassination of a country’s top ruler by an airstrike, had been due to lie in state in a Tehran prayer hall from Wednesday evening to launch three days of mourning.
But the memorial, expected to draw many thousands of mourners to the streets, was abruptly postponed.
Two sources familiar with Israel’s battle plans said that Israel, having killed many Iranian leaders, was now planning to enter a second phase when it would target underground bunkers where Iran stores its missiles.
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Israel Decided to Kill Khamenei in November, Defense Minister Says
Israel’s Defense Minister Israel Katz and his Greek counterpart Nikos Dendias make statements to the press, at the Ministry of Defense in Athens Greece, Jan. 20, 2026. Photo: REUTERS/Louisa Gouliamaki
Israel took the decision to kill Iran’s Supreme Leader Ali Khamenei in November and was planning to carry out the operation around six months later, Defense Minister Israel Katz said on Thursday.
Khamenei was killed in the first hours of the US-Israeli air campaign that began on Saturday in the first assassination of a country’s top ruler by an airstrike.
The joint air assault is nearing the end of its first week after opening salvos killed the country’s leaders and set off a regional war, with Iranian attacks in Israel, the Gulf and Iraq, and Israeli attacks against Iran’s ally Hezbollah in Lebanon.
“Already in November we were convened with the prime minister in a very tight forum and the prime minister [Benjamin Netanyahu] set the goal of eliminating Khamenei,” Katz told Israel‘s N12 TV news. The timing was set for mid-2026, he said.
The plan was eventually shared with the Washington and brought forward around January after protests broke out Iran, when Israel was concerned its pressured clerical rulers might launch an attack against Israel and US assets in the Middle East, Katz said.
Israel has said its aim is to eliminate the existential threat it sees in Iran’s nuclear program and ballistic missile project, and to bring about regime change. Iran’s rulers have so far shown no sign of relinquishing power.
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China in Talks With Iran to Allow Safe Oil and Gas Passage Through Hormuz, Sources Say
An oil tanker unloads crude oil at a crude oil terminal in Zhoushan, Zhejiang province, China, July 4, 2018. Picture taken July 4, 2018. Photo: REUTERS/Stringer
China is in talks with Iran to allow crude oil and Qatari liquefied natural gas vessels safe passage through the Strait of Hormuz as the US-Israeli war on Tehran intensifies, three diplomatic sources told Reuters.
The war, which entered its sixth day on Thursday, has left the critical shipping passageway all-but shut, with countries around the world cut off from a fifth of global oil and liquefied natural gas supplies.
China, which has friendly relations with Iran and relies heavily on Middle Eastern supplies, is unhappy about the Islamic Republic’s move to paralyze shipping through the Strait and is pressing Tehran to allow safe passage for the vessels, according to the sources.
The world’s second-largest economy gets about 45% of its oil from the Strait.
Ship tracking data showed a vessel called the Iron Maiden passed through the Strait overnight after changing its signaling to “China-owner,” but far more sailings will be needed to calm global markets.
Crude oil prices are up more than 15% since the conflict began amid production stoppages as Tehran attacks energy facilities in the Gulf as well as ships crossing the Strait.
Its missiles have also reached as far afield as Cyprus, Azerbaijan, and Turkey, destabilizing global markets and prompting major economies to warn about inflation risks.
Crude tanker transits through the strait fell to four vessels on March 1, the day after hostilities broke out, versus an average of 24 a day since January, Vortexa vessel-tracking data showed.
Around 300 oil tankers remain inside the Strait, according to Vortexa and ship tracker Kpler.
Sugar industry veteran Mike McDougall told Reuters that Middle East sugar executives say there are some ships transiting the Strait at the moment, all of which are either Chinese or Iranian-owned.
Jamal Al-Ghurair, the managing director of Dubai-based Al Khaleej Sugar, told Reuters some ships carrying sugar are currently allowed to pass through the Strait while others are not, without giving further details.
Iran‘s government said earlier in the week that no vessels belonging to the United States, Israel, European countries or their allies would be allowed to pass through the Strait of Hormuz, but the statement made no mention of China.