Norwegian Foreign Minister Espen Barth Eide announced on Friday plans for a bill that would impose legal restrictions on trade with Israelis in Judea and Samaria, in what one Jewish community leader called a “betrayal” of Israel by its former political allies.

The effects of a trade ban on products produced in Judea and Samaria would have “near negligible” impact on Israel economy, but may be applied to trade with Israeli banks that have a presence in those territories, which would “chill trade altogether,” the Jewish community source said.

“We intend to prohibit trade with the unlawful settlements,” Eide wrote in a statement. “By proposing legally binding prohibitions, the government makes it clear that Norwegian citizens and Norwegian companies must not profit from or support activities that help sustain Israel’s unlawful settlement activity in Palestine,” he added.

Eide’s ruling Labor Party and Norwegian Prime Minister Jonas Gahr Støre have secured the support of four other parties for the bill, allowing it to easily clear a vote with the majority of the 169 seats in Norway’s parliament, according to a report by Dagbladet.