Bill passes 1st reading, sanctions companies with Iran ties

June 18, 2012 21:05

The Knesset passed a bill in its first reading on Monday that would put sanctions on companies that do business with Iran. The bill was initially proposed by Prime Minister Binyamin Netanyahu when he was opposition leader in the previous Knesset.

According to the bill, a committee within the Finance Ministry would be entrusted with declaring what foreign companies are assisting Iran's nuclear program. Doing business with such companies and investing in them would be limited and the companies would be prevented from doing business with Israel.

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