Israeli Prime Minister Benjamin Netanyahu is facing a wave of criticism from economists and political rivals after suggesting Israel could use cryptocurrency to shield its economy from potential international sanctions.

Preparing for a sanctions scenario

In an interview with Israel’s Channel 10 on Friday, Netanyahu said he was preparing for a scenario in which broader sanctions were imposed on the country.

The comments came just days before Tuesday’s election, and a month after Britain, France and Canada said they would block imports from Israeli settlements in the West Bank.

Netanyahu told the channel:

“There could be sanctions, and sanctions on banks so you need to set up a bypass economy. You…