Israel's Knesset (parliament) on Wednesday approved a bill prohibiting all business institutions from investing in companies upholding ties with Iran, local daily Yedioth Ahronoth reported on its website.

The bill, put forward by opposition leader MK (member of Knesset) Benjamin Netanyahu, was in an effort to broaden the economic sanctions on Iran and thus to hinder its nuclear progress, Yedioth Ahronoth said, adding that the new law carries a sentence of 25 years in prison.

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