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The President of the United Arab Emirates, Sheikh Khalifa bin Said al-Nahjan, has formally lifted the boycott of Israel with a decree. The state news agency WAM reported on Saturday. Previously applicable sanctions in connection with the boycott would also be abolished. The two countries surprisingly announced a normalization of their relations in mid-August with the mediation of the United States.
The United Arab Emirates (UAE) banned relations and business with Israeli citizens and companies in a 1972 law. This boycott is lifted with Saturday’s decree. “People and companies in the United Arab Emirates can enter into contracts with corporations or individuals based in Israel or with Israeli nationality,” the WAM agency reported. In the future, commercial and monetary transactions and the import and trade of Israeli products will be allowed.
The Emirates are the third Arab country after Egypt and Jordan to establish diplomatic relations with Israel. In exchange for the deal, Israel wants to suspend the planned annexation of areas in the occupied West Bank, which the Palestinians claim for their own state. (sda / dpa)
