Turkish Tradeโ Ban โcontributes to bankruptcy of Israeli Iron and Steel Company
ASHOD, Israel โ- October 24, 2025 – Shaul gueta, an Israeli company specializing in the import and export โขofโ iron and steel based in theโ port city of Ashdod, has declared โbankruptcy, with a Turkish trade ban implemented in response to the conflictโ in Gazaโฃ cited as a โmajorโ contributingโข factor.
According to reports in the โขIsraeli press, the company accrued debts of 105 โขmillion new Israeli Shekels (over $32 million USD) priorโ to the bankruptcy filing.Before Israel’s attacks on โขGaza, approximately 70 percent of Shaul Gueta’s revenue originated โขfrom the Turkish โmarket.
The Beersheva districtโ Court has halted the company’s โoperations andโค appointed a trustee to determine whether to liquidateโข or restructure the business.โค An audit report โคsubmitted to the court in August 2025 โrevealed a important declineโ in revenue, from 200 million Shekels (approximately $61 million USD) in โ2022 to just 35 million โShekels (approximately $11 million USD)โ in the first half of 2025.
Company officials argued in โฃcourt that the attacks on Gaza and theโฃ subsequent Turkish trade ban severely impacted sales andโข profit margins.”The majority of the company’s income came from exports, especially to Tรผrkiye, wich entirely โขstopped trade with Israel,” they stated.