Most UAE banks stop transfers to Iran after sanctions
AFP
05-Sep-2010

Most banks in the United Arab Emirates, an important trading partner for Iran, have stopped money transfers there after the latest round of sanctions on the Islamic republic, bankers said on Sunday.

A Dubai-based Iranian businessman said that the latest sanctions have halved trade with Dubai, an important re-export centre for Iranian goods.

"We stopped transfers to Iran in all currencies in July," an executive from an international bank, who spoke on condition of anonymity, told AFP.

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