The IsraeliCabinet unanimously decided to expand the economic sanctions against Iran. These steps include a series of administrative and regulatory measures that will place Israel at the international forefront regarding the imposition of sanctions on Iran
The IsraeliCabinet unanimously decided last week to expand the economic sanctions against Iran, aligning its policies with the United States and Europe on trade with the Islamic republic. The decision is in continuation of the recommendations of the Government committee that was established for this purpose.
These steps include a series of administrative and regulatory measures that will place Israel at the international forefront regarding the imposition of sanctions on Iran. The sanctions cover any type of trade with Iran, including private companies.These steps will be advanced in the coming days by the various relevant ministries.
Among the sanctions is an amendment to the Prohibition on Money Laundering that will enable the expansion of oversight and control vis-א-vis elements trading with Iran. It was also determined that state contact with companies that trade with Iran will be restricted.
In order to advance the sanctions, the State of Israel will declare Iran and bodies linked to it to be enemy elements. Activity on the issue will be coordinated by a new national directorate that will be established for this purpose. The directorate will be responsible for coordinating data, advancing legislation and regulations and will enforce the sanctions.
The move comes on the heels of a scandal that erupted in late May, when the U.S. State Department announced a decision to blacklist the Ofer Brothers Group, an Israeli-owned shipping conglomerate, for engaging in trade with Iran in violation of a U. S. ban. U.S. State Department named Tanker Pacific, an Israeli-owned shipping company, as one of seven companies working with Iran in the energy sector.
Iran is facing UN sanctions over its controversial nuclear programme.The Western countries suspect the programme is cover for developing a nuclear weapons capability, a charge Iran strongly denies.
