It is prohibited for a physical or juristic person to enter into an agreement, either directly or through an intermediary person, with institutions or persons who are residents of Israel, or who hold its nationality, or work for its account or interest wherever their place of residence is established, where the subject-matter of the agreement is commercial dealings or financial transactions or any other dealings of whatever nature. National companies and establishments which have interests, branches or general agencies in Israel shall be considered same as institutions and persons with whom dealings are banned, as determined by the Ministry of Economy according to the recommendations of the Conference of Liaison Officers.