UAE abolishes boycott of Israel
Business transactions, agreements, financial activities and trade in products from the two countries were permitted. A government decree from 1972 declaring the imposition of the boycott was repealed
Dan Arkin
| 30/08/2020
Dubai. Photo: BIGSTOCK/copyright: Zoom-zoom
The UAE has repealed its law boycotting Israel and thus lifted the boycott. The UAE's WAM news agency reported Saturday that the country's president, Sheikh Khalifa bin Zayed Al-Nahyan, issued Federal Law No. 4, cancelling Federal Law No. 15 from 1972 that declared the imposition of a boycott on Israel and specified the punishments for violating it.
The abolition of the boycott law is part of the UAE's effort to widen diplomatic and commercial relations with Israel ahead of the preparation of a roadmap for cooperation and promotion of ties between the two countries in economic and technological fields. The UAE's news agency reports that individual citizens and companies are now permitted to negotiate agreements with individuals and companies from Israel, and commercial transactions and financial activities are also allowed. The decree enables acquisitions or barter transactions of merchandise or products from Israel, or of products of any kind made in the UAE, and trade in them.
Business transactions, agreements, financial activities and trade in products from the two countries were permitted. A government decree from 1972 declaring the imposition of the boycott was repealed
Dubai. Photo: BIGSTOCK/copyright: Zoom-zoom
The UAE has repealed its law boycotting Israel and thus lifted the boycott. The UAE's WAM news agency reported Saturday that the country's president, Sheikh Khalifa bin Zayed Al-Nahyan, issued Federal Law No. 4, cancelling Federal Law No. 15 from 1972 that declared the imposition of a boycott on Israel and specified the punishments for violating it.
The abolition of the boycott law is part of the UAE's effort to widen diplomatic and commercial relations with Israel ahead of the preparation of a roadmap for cooperation and promotion of ties between the two countries in economic and technological fields. The UAE's news agency reports that individual citizens and companies are now permitted to negotiate agreements with individuals and companies from Israel, and commercial transactions and financial activities are also allowed. The decree enables acquisitions or barter transactions of merchandise or products from Israel, or of products of any kind made in the UAE, and trade in them.
