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UAE’s new restrictions squeeze Iranians

Dubai’s trade with Iran helped the embattled emirate survive after its property bubble burst.

October 21, 2010 4:36 by

US pressure on authorities has prompted a crackdown in the United Arab Emirates, Iran’s largest trading partner and home to an estimated 400,000 Iranian expatriates.

Most UAE financial institutions are refusing to send or receive money from Iranian banks blacklisted by the US for allegedly supporting Iran’s nuclear program.

The UAE’s new restrictions on Iranian banks and corporations have crippled the financial operations of Iranian nationals.

Read more: Dubai cracking down on Iran trade; UAE gets tough on companies dealing with Iran.

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