Turkish Trade Ban contributes to bankruptcy of Israeli Iron and Steel Company
ASHOD, Israel - October 24, 2025 – Shaul gueta, an Israeli company specializing in the import and export of iron and steel based in the port city of Ashdod, has declared bankruptcy, with a Turkish trade ban implemented in response to the conflict in Gaza cited as a major contributing factor.
According to reports in the Israeli press, the company accrued debts of 105 million new Israeli Shekels (over $32 million USD) prior to the bankruptcy filing.Before Israel’s attacks on Gaza, approximately 70 percent of Shaul Gueta’s revenue originated from the Turkish market.
The Beersheva district Court has halted the company’s operations and appointed a trustee to determine whether to liquidate or restructure the business. An audit report submitted to the court in August 2025 revealed a important decline in revenue, from 200 million Shekels (approximately $61 million USD) in 2022 to just 35 million Shekels (approximately $11 million USD) in the first half of 2025.
Company officials argued in court that the attacks on Gaza and the subsequent Turkish trade ban severely impacted sales and profit margins.”The majority of the company’s income came from exports, especially to Türkiye, wich entirely stopped trade with Israel,” they stated.
