ZIM cargo ship 311.
(photo credit: Courtesy)
The Finance Ministry presented proposed regulations to the Knesset Foreign
Affairs and Defense Committee on Sunday that would forbid trade with Iran
conducted through a third party.
The regulations, drafted over two months
after it was found that the Ofer Brothers Group had sold an oil tanker to the
Republic of Iran Shipping Lines, would forbid Israelis to invest in companies
that do business with Iran.
The three-page document was presented to the
Foreign Affairs and Defense Committee in a meeting that was closed to
The committee will vote on the regulations later this week,
after the proposed rules are revised.
Shuki Friedman, representing the
Prime Minister’s Office, said “the new regulations were meant to be as similar
as possible to the regulations in the US.”
Currently, Israeli companies
may not do business with Iran. The new regulations would forbid the same thing
from occurring through a third party. Any international firm that did business
with Iran would be included on a list of companies that Israelis may not
contact, unless they have specific permission from the prime
The list will be published in Hebrew- and English-language
newspapers, as well as on the Finance Ministry website.
emphasize the prevention of any kind of energy sales or business that could be
directly or indirectly connected to nuclear proliferation.
regulations are not limited in time and apply to any amount of money.
Arye Eldad (National Union) said he was not satisfied with the Finance
“It seems like the regulations were written hastily, in
order to respond to the criticism against Israel that resulted from the Ofer
Brothers scandal,” Eldad said. “The regulations presented today are incomplete
and difficult to understand or implement.”