The Knesset approved a Finance Ministry measure to make indirect business connections with Iran illegal, according to a Jerusalem Post report.
“Precisely in these days, when the nations of the world are captivated by Iran’s false charm, it is important to harshly punish anyone who profits, even indirectly, from trade with our enemies,” Law, Constitution and Justice Committee chairman David Rotem (Likud-Beiteinu) said on Tuesday.
According to the regulation, a special ministerial committee will be able to declare a foreign entity as aiding Iran’s nuclear program, and it will be empowered to determine if a foreign corporation has direct or indirect business connections with Iran.
Any Israeli business interactions with these entities is a criminal offense carrying a three-year prison sentence and a NIS 900,000 fine, twice that if the offense is committed by a corporation.
The regulations were appended to the existing law prohibiting direct business connections with Iran, and is to go into effect in the next few weeks.