Americans have extra rules to follow, so they simply can't do work like this and they are done by other companies who are either not subject to such rules, or exist in countries that won't enforce those rules.

My "Standards of Business Conduct" training says exactly the same thing.

He should be careful, but presumably it depends upon which way the trade is going.

I don't believe Israel had any issue with Emirates. It was Emirates blocking Israel (side note: this seems to have changed recently).

So, as long as you cover yourself with Emirates, you can execute that trade and not get hung up.

If, however, Israel were the one embargoing the export, you would get yourself in really deep shit.

In the US at least, running afoul of Export/Import controls and laws guarantees a stay at Club Fed.

European here: Is Club Fed slang for prison?

Yes, apologies and thanks for asking for clarification. It's slang for Federal Prison, but for white collar crimes (less austere accommodations).

It's a play on Club Med (which is more of a European thing, Med being short for Mediterranean, and here Fed short for Federal, as in Federal crime/prison).

I had never heard the term before today, but did appreciate its cleverness.

Same here - for $VERY_LARGE_COMPANY.