A 1972 law banned relations and business between the United Arab Emirates and Israel. Now the President of the Emirates has discreetly lifted this.
The President of the United Arab Emirates, Sheikh Khalifa bin Said al-Nahjan, has formally lifted the boycott of Israel by decree. The state news agency WAM reported Saturday. Previously applicable sanctions related to the boycott would also be abolished. The two countries surprisingly announced a normalization of their relations in mid-August with the mediation of the US.
The United Arab Emirates (UAE) banned relations and business with Israeli citizens and businesses in a law from 1972. With Saturday’s decree, this boycott is lifted.
Import and trade in Israeli goods is permitted
“Individuals and companies in the UAE may contract with companies or individuals based in Israel or of Israeli nationality,” the agency reported WAM. In the future, business, money transfers, and the import and trade in Israeli goods will be allowed.
The Emirates are the third Arab country after Egypt and Jordan to establish diplomatic relations with Israel. In exchange for the agreement, Israel wants to suspend the planned annexation of areas in the occupied West Bank that the Palestinians are claiming for their own state.