News Briefs

  6/26/2011, Sivan 24, 5771

Sanctions for Companies that Do Business with Iran

The cabinet on Sunday unanimously approved a resolution declaring Iran an enemy state, and slapping Israeli companies that do business with Iran with sanctions. In addition, the state will limit its contact with foreign companies that do business with Iran.

Each ministry will in the coming days develop guidelines applicable to their area of authority that will define the extent of cooperation that could get Israeli companies or individuals in trouble for doing business with Iran. The effort will be coordinated by a new government committee that will be in charge of enforcing the sanctions.