Rishi Sunak says Israel has an ‘absolute right to defend itself’ against Hamas attack

Published

2 years ago

October 7, 2023

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Rishi Sunak has said Israel has an “absolute right to defend itself” after thousands of rockets were fired from the Gaza Strip in a surprise attack by the Hamas militant group.

The prime minister was joined by a number of UK politicians in condemning the attack, which began in the early hours of Saturday.

At least 100 Israelis have been killed in the attacks by Hamas, prompting the country’s prime minister, Benjamin Netanyahu, to declare that his country was “at war”.

Palestinian authorities said 198 people have been killed and 1,600 wounded in Gaza after Israeli forces retaliated to the attack.

Writing on X, formerly known as Twitter, Mr Sunak said he was “shocked by this morning’s attacks by Hamas terrorists against Israeli citizens”.

“Israel has an absolute right to defend itself,” he said.

“We’re in contact with Israeli authorities, and British nationals in Israel should follow travel advice.”

His words were echoed by Foreign Secretary James Cleverly, who said the UK the “unequivocally condemns the horrific attacks by Hamas on Israeli civilians”.

He added: “The UK will always support Israel’s right to defend itself.”

‘Deeply alarming’

Labour leader Sir Keir Starmer condemned the attacks and said there was “no justification for this act of terror which is being perpetrated by those who seek to undermine any chance for future peace in the region”.

“Israel has a right to defend herself.”

Sir Keir’s predecessor, Jeremy Corbyn, said called the ongoing conflict “deeply alarming”.

“We need an immediate ceasefire and urgent de-escalation,” he said.

“And we need a route out of this tragic cycle of violence: ending the occupation is the only means of achieving a just and lasting peace.”

In response, security minister Tom Tugendhat made reference to Mr Corbyn’s previous description of Hamas as “friends” – a comment he later said he regretted.

“Your ‘friends’ Hamas are murdering children and taking civilian hostages,” Mr Tugendhat posted.

“Haven’t you said enough?”

Mr Netanyahu said Hamas would “pay a price that it hasn’t known until now” as he ordered up a call of reservists.

Israel has blockaded Gaza since the Islamic militant group gained control of the territory in 2007 and the two have fought wars ever since.

In a televised address, Mr Netanyahu made his first remarks since the Gaza Strip’s Hamas rulers launched a major, multi-front attack on Israel at daybreak on Saturday.

“We are at war,” Mr Netanyahu said. “Not an ‘operation’, not a ’round’, but at war.”

The prime minister also ordered the military to clear the infiltrated towns of Hamas militants that remained locked in gunfights with Israeli soldiers.

Hamas launched its attacks on Simchat Torah, deploying dozens of soldiers to the country’s heavily fortified border on Saturday.

Retaliating to the incursion, the Israeli air force confirmed dozens of Israel Defense Forces (IDF) fighter jets struck a number of Hamas military compounds and operational command centres in the Gaza Strip.

Palestine’s President Mahmoud Abbas said the Palestinian people had the right to defend themselves against the “terror of settlers and occupation of troops”.

The scale of injuries, combined with the number of fatalities so far, makes the attack the deadliest in Israeli territory in years.

The IDF warned “the Hamas terror group will pay a very heavy price” saying it was launching a “large-scale operation” called “Swords of Iron” in response to the combined rocket and infantry attack.

Politics

Prediction markets bet on Coinbase-linked Hassett as top Fed pick

Published

8 hours ago

December 1, 2025

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Prediction markets bet on Coinbase-linked Hassett as top Fed pick

Prediction markets Polymarket and Kalshi view Kevin Hassett, US President Donald Trump’s National Economic Council director, as the favorite to replace Jerome Powell as the next Federal Reserve chair.

The odds of Hassett filling the seat have spiked to 66% on Polymarket and 74% on Kalshi at the time of writing. Hassett is widely viewed as crypto‑friendly thanks to his past role on Coinbase’s advisory council, a disclosed seven‑figure stake in the exchange and his leadership of the White House digital asset working group.

Founder and CEO of Wyoming-based Custodia Bank, and a prominent advocate for crypto-friendly regulations, Caitlin Long, commented on X:

“If this comes true & Hassett does become Fed chairman, anti-#crypto people at the Fed who still hold positions of power will finally be out (well, most of them anyway). BIG changes will be coming to the Fed.”

Kevin Hassett’s crypto credentials

Hassett is a long-time Republican policy economist who returned to Washington as Trump’s top economic adviser and has now emerged as the market-implied frontrunner to lead the Fed.

His financial disclosure reveals at least a seven‑figure Coinbase stake and compensation for serving on the exchange’s Academic and Regulatory Advisory Council, placing him unusually close to the crypto industry for a potential Fed chair.

Still, crypto has been burned before by reading too much into “crypto‑literate” resumes. Gary Gensler arrived at the Securities and Exchange Commission with MIT blockchain courses under his belt, but went on to preside over a wave of high‑profile enforcement actions, some of which critics branded as “Operation Chokepoint 2.0.”

A Hassett-led Fed might be more open to experimentation and less reflexively hostile to bank‑crypto activity. Still, the institution’s mandate on financial stability means markets should not assume a one‑way bet on deregulation.

Supervision pushback inside the Fed

The Hassett odds have jumped just as the Fed’s own approach to bank supervision has received pushback from veterans like Fed Governor Michael Barr, who earned his reputation as one of Operation Chokepoint 2.0’s key architects.

According to Caitlin Long, while he Barr “was Vice Chairman of Supervision & Regulation he did Warren’s bidding,” and he “has made it clear he will oppose changes made by Trump & his appointees.”

On Nov. 18, the Fed released new Supervisory Operating Principles that shift examiners toward a “risk‑first” framework, directing staff to focus on material safety‑and‑soundness risks rather than procedural or documentation issues.

In a speech the same day, Barr warned that narrowing oversight, weakening ratings frameworks and making it harder to issue enforcement actions or matters requiring attention could leave supervisors slower to act on emerging risks, arguing that gutting those tools may repeat pre‑crisis mistakes.

Days later, in Consumer Affairs Letter 25‑1, the Fed clarified that the new Supervisory Operating Principles do not apply to its Consumer Affairs supervision program (an area under Barr’s committee as a governor).

If prediction markets are right and a crypto‑friendly Hassett inherits this landscape, his Fed would not be writing on a blank slate but stepping into an institution already mid‑pivot on how hard (and where) it leans on banks.