You honestly don’t think the EU does much business with Israel?
Well, they do.

Check out this link from the EU for more details: https://www.eeas.europa.eu/israel/european-union-and-israel_en?s=200

The European Union and Israel share a long common history, marked by growing interdependence and cooperation. Both share the same values of democracy, respect for freedom and rule of law and are committed to an open international economic system based on market principles. Over five decades of trade, cultural exchanges, political cooperation and a developed system of agreements have cemented these relations.

The EU is Israel's largest trade market and accounts for about a third of Israel's total trade. In 2020, Israel was ranked the EU's 24th trade partner. The most traded goods are chemicals and related products, machinery and transport equipment, and manufactured goods.