Government of Israel Approves Sanctions Against Iran

June 26, 2011

The Cabinet unanimously decided today to expand the economic sanctions against Iran. This is in continuation of the recommendations of the Government committee that was established for this purpose. These steps include a series of administrative and regulatory measures that will place Israel at the international forefront regarding the imposition of sanctions on Iran. These steps will be advanced in the coming days by the various relevant ministries.

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 determined that state contact with companies that trade with Iran will be restricted.

In order to advance the sanctions, the State of Israel will declare Iran and bodies linked to it to be enemy elements. Activity on the issue will be coordinated by a new national directorate that will be established for this purpose. The directorate will be responsible for coordinating data, advancing legislation and regulations and will enforce the sanctions.

Prime Minister Benjamin Netanyahu said that, "The committee's recommendations are an important step in the struggle against Iran's nuclear program. These recommendations ensure that Israel will stand alongside other countries at the forefront of sanctions against Iran, in order to cause the Iranian regime to abandon its plans to develop nuclear weapons."