PALESTINE activists welcomed a decision by Barclays today to sell all its shareholding in Elbit Systems Ltd following more than a year of protests against the bank.

Barclays now owns zero shares in the weapons systems company, down from 16,345 in May — worth more than £2.6 million.

The bank has seen 54 targeted protests by Palestine Action across Britain in the past year, with activists smashing windows and spraying them in blood-red paint to raise the costs it faces for dealing with Elbit.

The actions were a part of Palestine Action’s four-year campaign against both Elbit Systems and its financial and industrial partners, which has successfully shut down two weapons manufacturing sites.

Protesters have increased their tempo since Israel’s latest war on Gaza.

Elbit Systems is a major supplier of weapon and military components to Israel, which has killed more than 42,000 people in Gaza since October 7.

A Palestine Action spokesperson said: “Through a focused strategy, direct action has achieved multiple successes and forced the hands of many complicit institutions.

“We will remain committed and focused to the task at hand and target any and all institutions and businesses which enable Israel’s biggest weapons firm to maintain their genocidal operations.

“That means, if Barclays does reinvest into Elbit Systems in the future, Palestine Action will come knocking again.”

Barclays has also been targeted in a nationwide boycott by the Palestine Solidarity Campaign (PSC) and other groups, which saw more than 1,500 customers closing their accounts with the bank.

Research by the Campaign Against Arms Trade, War on Want and PSC in 2022 showed that the bank held shareholdings worth over £1.5 billion in companies connected to Israel’s military and intelligence.

Barclays was approached for comment.