Israel's Knesset (parliament) on Wednesday approved a bill prohibiting all business institutions from investing in companies upholding ties with Iran, local daily Yedioth Ahronoth reported on its website.
The bill, put forward by opposition leader MK (member of Knesset) Benjamin Netanyahu, was in an effort to broaden the economic sanctions on Iran and thus to hinder its nuclear progress, Yedioth Ahronoth said, adding that the new law carries a sentence of 25 years in prison.
The bill, which took over a year to approve, was approved in an initial reading in March of 2007, and since then has undergone many debates in the Knesset until it was finally approved Wednesday.
Following the vote in favor of his proposal, Netanyahu, chairman of Likud party, was quoted as saying that "the Islamic Republic of Iran constitutes a danger to world peace and the existence of the State of Israel, and it has been proven that economic sanctions cause definite changes in the international and political policies of countries worldwide."
According to Netanyahu, avoiding contact with companies and corporations that uphold ties with Iran will put pressure on them to quit these ties.
"In the approval of this bill Israel has demanded that the countries of the world commit themselves to prohibiting Iran from developing nuclear weapons," he said.
The United States has accused Iran of trying to develop nuclear weapons under the cover of a civilian nuclear program.
Iran has denied U.S. charges and insisted that its nuclear program is for peaceful purposes only.
Source:Xinhua
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