The cabinet on Sunday approved economic sanctions on Iran and on international companies engaging in business with the country.
According to an official statement, among the sanctions is an amendment to the Prohibition on Money Laundering Law that will enable the expansion of oversight and control vis-à-vis elements trading with Iran.
It was also restrict state contact with companies that trade with Iran.
"In order to advance the sanctions, the State of Israel will declare Iran and bodies linked to it to be enemy elements," the statement said.
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