Allianz has suspended its sponsorship of one of Spain’s top cultural events after celebrities threatened a boycott over the German insurance giant’s ties to Israel, organisers said today.
“Allianz is today the world’s largest buyer of Israeli state bonds and, therefore, an essential financial backer of the ongoing genocide,” the celebrities said in a statement, referring to the Gaza war launched after Hamas’s 2023 attacks on Israel.
They said they would snub the annual Festival of Ideas in Madrid unless it committed to “not accepting economic support, in this or future editions, from companies that collaborate with the State of Israel in the destruction of the Palestinian people”.
The festival cannot “contribute to the whitewashing of the economic actors which allow extermination, occupation and apartheid to take place”, added the more than 20 celebrities, including Oscar-nominated Spanish director Rodrigo Sorogoyen.
The festival announced in a statement that it had agreed with Allianz to suspend the sponsorship of the event, due to run for four days from Thursday and see acclaimed British writer Zadie Smith take part.
“Both parties agree that the festival should continue to be a space dedicated to the free exchange of ideas, open debate and the diversity of opinions without any external controversy diverting attention from its programme, participants or audience,” the statement read.
The Palestinian cause enjoys widespread support in Spain, whose Socialist leader Pedro Sanchez has been one of the most virulent critics of Israel’s offensive in Gaza.
Last week, Spain was among 12 countries, including Ireland, which announced sanctions on trade with Israeli settlements in the occupied West Bank as settler attacks on Palestinians increase there.
In Ireland, the Gaelic Athletic Association has faced calls from some of its members to end Allianz’s over 30-year sponsorship of its Gaelic football and hurling leagues.
In February, GAA Congress was halted after protesters made their way into the hall at Croke Park.
Last month, the GAA said it would continue its sponsorship deal with Allianz after Central Council and the Management Committee “overwhelmingly agreed” to maintain the partnership.