I would suggest taking a page from the South Africa playbook:Some Know-it-alls knew it all in 1948.
Recognizing Israel was a huge mistake at that time.
Now's a good time to rectify that mistake.
What do you have in mind?
"If international civil society is serious about urgently ending Israels violations of Palestinian rights, including ending the occupation, then suspension of SWIFT transactions to and from Israeli banks offers an instrument to help bring about a peaceful resolution of an intractable conflict..."
"Although access to New York banks remains essential for foreign exchange transactions because of the role of the dollar, interbank transfer instructions are conducted through the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is based in Belgium. So, instead of New York as in the period when sanctions were applied on South Africa Belgium is now the pressure point.
'SWIFT links 8,740 financial institutions in 209 countries. Without access to SWIFT and its interbank payment network, countries are unable either to pay for imports or to receive payment for exports.
"In short, no payment no trade."
Terry Crawford-Browne: To end the occupation, cripple Israeli banks | Israeli Occupation Archive
You stated that "recognizing Israel was a huge mistake at that time. Now's a good time to rectify that mistake." How does isolating Israel economically now recitfy what you claim was a mistake? Are you suggesting we choke Israel to death?