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News Brief

July 19, 2000
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An Israeli legislator who deals with Holocaust restitution issues told JTA he plans to seek U.S. sanctions against Switzerland’s leading banks. Avraham Herschson said he plans, among other actions, to have U.S. officials block the Union Bank of Switzerland’s planned acquisition of U.S. investment house Paine Webber. Herschson said he was reacting to the banks’ “actions to delay implementation” of a $1.25 billion agreement reached in 1998 to settle Holocaust-era claims.

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