The $12 billion trade between the UAE and Iran is under threat due to pressure from the US and Abu Dhabi, over sanctions against Iran concerning its nuclear program.
Dubai’s authorities are starting to crack down on Iran’s ability to bypass sanctions. The days of the lax customs regulation at Dubai Creek – where there are no X-ray machines to monitor shipments – could be numbered.
The US taxpayer has given more than $107 billion to companies that are also doing business with Iran, despite Washington’s efforts to discourage investment there, according to a recent report by The New York Times.
But ties between Dubai and Iran remain strong. Today, many of the Dubai Creek dhows, piled high with goods, are heading to Iran. For Dubai is Iran’s largest non-oil trading partner: trade between the two tripled to more than $12 billion in the four years to last year, according to figures from the Dubai Chamber of Commerce.
Read about it in KipReport in the article "Dubai cracking down on Iran trade"
