A significant coalition of leading economists, including former Greek Finance Minister Yanis Varoufakis, has publicly endorsed the recent United Nations report by Special Rapporteur Francesca Albanese, which exposes the economic underpinnings of Israel’s ongoing occupation and military operations in the Palestinian territories. The report, titled “From Economy of Occupation to Economy of Genocide,” presents a detailed investigation into how corporate and academic complicity fuels what Albanese describes as a genocidal system in Gaza and the West Bank.
Francesca Albanese’s Report: A New Paradigm on the Israeli-Palestinian Conflict
Presented at the 59th session of the UN Human Rights Council in June 2025, Albanese’s report marks a pivotal shift in the international discourse by framing Israel’s occupation not only as a political and military issue but as an economic-industrial project that has evolved into what she terms an “economy of genocide.” The report meticulously documents how a network of multinational corporations, financial institutions, and academic entities have provided the tools, technologies, and logistical support that enable Israel’s extensive military campaigns and systemic displacement of Palestinians.
The report identifies 48 major corporate actors, including global giants such as Microsoft, Amazon, Alphabet Inc. (Google’s parent company), Lockheed Martin, and Elbit Systems. These companies supply advanced weaponry, surveillance technology, artificial intelligence for predictive policing, and critical cloud computing infrastructure that supports military operations. Albanese asserts that these entities have failed to uphold their legal and ethical responsibilities by continuing to profit from and sustain a system that perpetrates grave human rights violations.
Yanis Varoufakis and Other Economists Join the Call for Accountability
Yanis Varoufakis, renowned economist and former finance minister known for his outspoken views on economic justice and international law, has joined a growing list of economists backing Albanese’s findings. Varoufakis highlights the importance of understanding the conflict through an economic lens, emphasizing that “the machinery of occupation and genocide is not only political but deeply embedded in global capitalism.”
Varoufakis stated,
“Francesca Albanese’s report is a wake-up call to economists and policymakers worldwide. It exposes how economic interests and corporate complicity perpetuate violence and dispossession in Palestine. We cannot separate the economy from human rights.”
His endorsement adds weight to the report’s call for comprehensive measures, including sanctions and divestment, to hold corporations accountable and disrupt the financial networks enabling the occupation.
Other prominent economists have echoed Varoufakis’s sentiments, underscoring the need for a multilateral approach to dismantle the economic structures that sustain the conflict. They argue that addressing the economic dimension is essential to achieving a just and lasting peace.
Corporate Complicity and the Profits of Occupation
Albanese’s report details how the occupation has become a lucrative enterprise for many companies, with some sectors profiting from the militarization and control of Palestinian territories. The military-industrial complex benefits from supplying advanced weaponry and drones used in Gaza, while technology firms exploit Palestinian data for AI applications in surveillance and warfare.
The report highlights how energy companies have facilitated Israel’s blockade of Gaza by controlling fuel supplies, exacerbating the humanitarian crisis. Construction firms have continued to supply equipment used in demolitions and the destruction of Palestinian homes and infrastructure. Even sectors seemingly unrelated to conflict, such as tourism, supermarkets, and universities, are implicated in normalizing apartheid and the erasure of Palestinian life.
Albanese warns that
“this is not accidental; it is the function of an economy built to dominate, dispossess, and erase Palestinians from their land.”
She calls for urgent action to sever the financial and technological ties that enable these abuses.
International Legal and Human Rights Implications
The report’s framing of the occupation as an economy of genocide carries profound legal implications. Albanese points to “reasonable grounds” to suspect that Israel’s actions in Gaza may constitute genocide under international law, a charge that has sparked intense debate globally. She underscores that the complicity of corporations in this system could expose them to legal accountability for aiding and abetting crimes against humanity.
The report calls on governments, investors, and international institutions to implement strict measures, including boycotts, divestments, and sanctions, against companies profiting from the occupation. Albanese stresses that political leaders have largely shirked their obligations, allowing corporate actors to continue business as usual despite mounting atrocities.
Responses and Controversies
The report has been met with fierce criticism from pro-Israel groups and some governments. UN Watch, a watchdog organization, denounced Albanese’s report as “a giant libel” aimed at isolating Israel and undermining its legitimacy. They argue that the report unfairly demonizes Israel and ignores the complex historical and security context of the conflict.
Despite the pushback, the report has gained traction among human rights advocates, academics, and international legal experts. It has sparked renewed calls for a comprehensive re-evaluation of the role of corporations in conflict zones and the ethical responsibilities of global capitalism.
Francesca Albanese’s Ongoing Advocacy
Since her appointment as UN Special Rapporteur in 2022, Francesca Albanese has been a vocal and persistent advocate for Palestinian rights, repeatedly warning of the catastrophic humanitarian situation in Gaza and the West Bank. In interviews, she has described the conflict as “genocide in real time,” highlighting the widespread destruction, mass displacement, and severe malnutrition affecting millions.
Albanese has called for multilateral intervention to halt the violence and end the blockade of Gaza. She emphasizes the need for international solidarity and action to dismantle the economic and political systems that sustain the occupation.
The Broader Economic Context of the Conflict
The endorsement by economists like Varoufakis underscores a growing recognition that the Israeli-Palestinian conflict cannot be resolved solely through diplomacy or military means. The economic dimension—how wealth, technology, and corporate interests intersect with human rights abuses—is increasingly seen as central to understanding and addressing the crisis.
This perspective challenges traditional narratives and calls for innovative approaches that target the financial and technological infrastructures enabling the occupation and violence. By exposing the economic ecosystem behind the conflict, Albanese’s report and its supporters aim to mobilize international pressure for systemic change.
Toward Accountability and Justice
The backing of Francesca Albanese’s report by Yanis Varoufakis and other prominent economists signals a critical moment in the global discourse on Palestine. Their support amplifies the call for accountability not only of political actors but also of corporate entities profiting from occupation and violence.
As the international community grapples with one of the most enduring and complex conflicts of our time, Albanese’s report offers a comprehensive framework that links human rights, international law, and economic justice. It challenges governments, investors, and civil society to confront uncomfortable truths and take concrete steps to end the cycle of violence and dispossession in Gaza and the occupied Palestinian territories.
The report and its endorsements serve as a powerful reminder that peace and justice require dismantling not only walls and checkpoints but also the economic systems that sustain inequality and oppression.