Archive: 8/14/2011
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  8/14/2011, Av 14, 5771

C'tee to Vote Soon on Widening Iran Business Ban


The Knesset Foreign Affairs and Defense Committee held a hearing, Sunday, on new regulations sought by the Treasury to ban companies from having substantial business ties with Iran, except as approved by the prime minister. The committee is scheduled to vote in the next few days on sending the regulations to the Knesset during the winter session.

The regulations resemble those adopted by the United States and go beyond regulations adopted in 2008 in that they ban contact via third parties. The focus is on nuclear and other energy-related trade. Offending companies would be publicized on the Finance Ministry's website. Committee member Aryeh Eldad (National Union) said he had the impression the regulations were put together in a hurry to deflect criticism over the "Ofer Brothers Affair", in which the United States blacklisted a company owned by an Israeli family after it was discovered that an oil tanker owned by a foreign subsidiary was sold to an Iranian company.