The European Union has no intention of passing a resolution boycotting Israel, European Parliament President Martin Schultz, on a visit to Israel, said Tuesday evening, Channel 2 reported.

Schultz said that should any moves toward boycott be made, these will be by individual countries in the EU, and not by the union itself.

Schulz also commented in his speech about the ongoing peace process between Israel and the Palestinians, the possible failure of which has raised concerns in the Israeli government, would be followed by a boycott of Israel as a punitive measure.

In his address after receiving an honorary doctorate from the Hebrew University in Jerusalem, he said that the best approach toward a resolution of the conflict is through negotiations, and added that the EU will not interfere in this process.

Schulz met with Palestinian President Mahmoud Abbas this week, and is scheduled to meet with Prime Minister Benjamin Netanyahu and President Shimon Peres on Wednesday.

