Ministers approve bill against Iran´s nuclear program (YNetNews.Com -Yedioth Internet) Aviad Glickman Published: 05.29.12, 18:33)
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Legislation combating Iranian nuclear program will expand sanctions
against corporations that have any business dealings with Islamic
Over the past few years Prime Minister Benjamin Netanyahu has often
spoken of the need to take the fight against Iran to financial
channels, and on Tuesday the Ministerial Committee on Legislation
took his words to heart and approved the "combating the Iranian
nuclear program" bill.
The purpose of the bill, which is being promoted by the Prime
Minister´s Office, is to limit Israeli investment in corporations
that have "major business connections" with Iran. The bill will now
be brought before the Knesset for a preliminary reading.
A memorandum stated that "For over three decades Iran is threatening
world peace in general and, more specifically, the destruction of the
It went on to claim "Iran which is aspiring to acquire nuclear
weapons and supports a wide network of worldwide terror groups is a
danger to global order and security. We cannot accept that regional
and global reality."
The bill´s clauses explain and expand on the sanctions that will be
imposed in Israel on elements that have distribution cooperation with
Distribution is defined as any act that promotes Iran´s nuclear
program and any project connected to the production of weapons of
mass destruction, including the sale and transport of commodities,
technology, information and providing financial and logistic services.
Moreover, the bill determines that increased sanctions would be
imposed on corporations that have business contacts with, or invest
in the Islamic Republic.
The bill supplements and expands the current arrangements within
Israeli legislation on the matter and creates a comprehensive
settlement with the intent of including the reference to sanctions
against Iran in one law designated for that purpose.
In addition, the bill´s memorandum proposes that the Finance Ministry
establish a sanctions HQ that will be responsible for the list of
elements that have business contacts with Iran. (Copyright 2012 ©
Yedioth Internet 05/29/12)
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