Zohran Mamdani, the Democratic nominee for mayor of New York City, has said that if elected, he will oppose restoring the city’s historic investments in Israel Bonds.
The city’s investments in Israel Bonds — totaling some $39 million as of January 2022 — were not renewed when they matured in 2023. The decision was made by Mamdani’s ally, city comptroller Brad Lander, who cited a general policy of avoiding debt to foreign governments, saying Israel had been an exception and was now being treated in accordance with the rule.
In an interview with CBS New York broadcast Sunday, Mamdani stopped short of calling to divest from Israeli businesses, though he did not explicitly reject the position, either, saying the city should focus on where it is “directly implicated” in violations of international law.
“And in the city pension fund, purchasing Israel Bonds, that, to me, is something that is a clear indication of our values — and we know that our values are actually with international law,” he said.
In a July letter to New York Mayor Eric Adams, Lander said that as of May 2025, the city’s public pension systems held more than $315 million in Israeli assets other than Israel Bonds, mostly common stocks.
Mamdani, a self-described democratic socialist, has alarmed much of the New York business and Jewish communities as well as some within the Democratic Party with his left-wing and anti-Israel views. Election Day is November 4.
Mark Levine, the Democratic nominee for comptroller, has said he will restore the bonds, and confirmed after the comment from Mamdani — whom he has endorsed — that he still intends to do so if elected.
Israel Bonds CEO Dani Naveh declined to respond to Mamdani by name, but said in a statement: “Israel Bonds is proud of the unprecedented outpouring of support — more than $5.5 billion in investments since October 7 — including major commitments from local governments around the country, including the State of New York.”
In the interview, Mamdani also criticized current NYC Mayor Eric Adams, saying he “had a meeting with Israeli settler leaders [and] promised greater cooperation between this city and that movement.”
Adams traveled to Israel in 2023, meeting with figures from across the political spectrum, including Binyamin Regional Council chair Yisrael Gantz.
“I did not go into conversations [about] settlements, it was not mentioned at all in the meeting, at no time did we talk about settlements, that is not why I’m here,” Adams told The Times of Israel at the time.
Mamdani has not said if or how he would seek to have New York City comply with the Boycott, Divestment, and Sanctions movement. He has also said that New York City is experiencing a “crisis of antisemitism,” and that “there’s no room for it in this city, in this country.