Legal Updates

The general permit to trade with Iraq will be in force until end of 2018

January 2, 2018
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Published in Afik News 247 03.01.2017

Israeli law prohibits trade with enemy countries, which prohibition applies to both direct and indirect trade with an enemy country. The scope of the prohibition is very broad and includes any economic activity with the enemy or to the enemy's advantage, without any exception. There are currently four countries only that are defined as "enemy countries": Iraq, Iran, Syria and Lebanon, but as to Iraq there is a general authorization signed by the Israeli Minister of Finance which provides a temporary permit to trade with Iraq. This authorization was now extended and will be in force until December 31, 2018.

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