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News Brief

June 15, 1999
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The U.S. Department of Commerce imposed a $5,000 civil penalty on the New York branch of Deutsche Bank for allegedly complying with a Lebanese boycott of Israel. The department charged that in a 1998 transaction with Lebanon, Deutsche Bank paid a letter of credit that contained a condition stating that the goods covered contained no Israeli materials. U.S. anti-boycott provisions prohibit U.S. companies and individuals from complying with unsanctioned boycotts of countries friendly to the United States.

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