Israel bans all economic contacts with Iran

The Ministry of Finance will apply the international economic sanctions against Iran set out in UN Security Council resolutions and Israeli financial institutions will be banned from investment in these companies
 
The Ministry of Finance issued last week a draft directive banning all economic contacts with Iran. The new directive adds Iran to the official list of enemy nations. This would ban any economic relations with the Islamic Republic, or on its behalf.
 
The Ministry added that it would apply the international economic sanctions against Iran set out in UN Security Council resolutions, The draft lists companies with substantial business ties with Iran.
 
Israeli financial institutions will be banned from investment in these companies. The draft also sets out the criteria defining substantial commercial ties with Iran, and companies meeting these criteria will be added to the list.
                                                                                                                                            Steinitz noted that "This is an important step in tightening Israel's part in the economic sanctions against Iran, as part of Israel's commitment to international effort to frustrate Iran's ability to develop unconventional weapons that threaten Israel and all Western countries."