Iran to limit trade with UAE

07 July 2010

An Iranian official has said that his country will limit trade with the UAE, in response to the UAE freezing 41 bank accounts of Iranian businessmen, Mehr news agency has reported. Masoud Daneshmand, chairman of the Iran-UAE Joint Chamber of Commerce has said the UAE move was not required by the Security Council resolution. Trade volume between Dubai and the Islamic republic is estimated at around $10bn a year, mostly in Iranian imports, the report said.

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