U.S. Treasury Department warns against cooperating with Arab boycott
The U.S. Department of the Treasury has published its periodic list of countries engaged in an international boycott, warning that U.S. companies should not cooperate with them.
The nations on the list include Bahrain, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, Syria, the United Arab Emirates, and the Republic of Yemen. They frequently bring pressure on anyone doing business with them to participate in, or cooperate with, a boycott on trading with certain other entities. The target of the boycott is usually Israel and Israeli interests.
“Cooperation with such a boycott may have adverse consequences for companies subject to U.S. taxes,” said Dennis Bryant, an admiralty attorney in Washington, D.C.