Israelis to be barred from investing in Siemens?
Finance Minister Yuval Steinitz is preparing legislation to impose sanctions on Iran, to declare it an enemy state and to prohibit all economic activity by Israelis with it. You mean, we haven't done this until now? Well, actually this seems to go further.... Steinitz sent a draft regulation prohibiting investment in corporations doing business with Iran to the Knesset Foreign Affairs and Defense Committee on Thursday morning.So would this bar Israelis from investing in Siemens? That would be awesome (if probably difficult to enforce).
The regulation constitutes one step in the measures approved by the Cabinet against Iran’s nuclear enrichment program on April 17, the ministry said.
The draft regulation sets the criteria for what defines a business relationship with Iran, and requires that any company found to have filled the criteria be placed on a blacklist of firms in which it is prohibited to invest.
Steinitz said of the regulation: “This is a significant step that strengthens Israel’s part in the economic sanctions against Iran, as part of the State of Israel’s commitment to the international effort to thwart Iran’s ability to develop non-conventional weapons, which will threaten the existence of Israel and the West.”
Labels: Iran sanctions regime, Siemens, Yuval Steinitz
posted by Carl in Jerusalem @ 3:43 AM
3 Comments:
Hmmm... I don't know how, without major intrusive monitoring of targets, your govt could do this. Maybe you could hire Google to do it. Re Siemens, along with their Iran role, I would not buy their stuff if I could avoid it because they had a huge plant where I live and they left a g-d-awful plume of something behind in the ground, packed up, and left town. The plant sat empty for years and years (in a high visibility spot). It is a long way to groundwater there and I actually never heard what the remediation deal was. But I think they got to skate. So they are not on my "buy" list.
This is a bit nuts. What will Israel do? Ban Israelis from working at Siemens Israel because it benefits Siemens? What's the difference between Siemens and Siemens Israel? Nothing. Nada. Zip.
http://www.siemens.com/about/en/worldwide/israel_1154627.htm
http://www.siemens.com/answers/il/he/
Carl - I drive a "French" Renault Fluence, which was actually built in Turkey. You've probably noticed how pretty much every third car here in Israel seems to be a Mazda3. Now, I don't know where they're assembled, but it doesn't seem entirely implausible that maybe, just maybe...http://en.wikipedia.org/wiki/Bahman_Group...And even if they're not, doesn't manufacturing cars in Iran seem like some sort of sanction violation?
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