
UAE trade embargo could shut Iran’s key economic escape route: Here’s why | Al Jazeera
>Kimmitt told Al Jazeera that the UAE’s trade embargo could indeed hurt Iran more than any US sanctions to date.
>He noted that Dubai has quietly become Tehran’s most important trading partner, surpassing China and Turkiye and supplying roughly one-third of Iran’s annual imports.
>“I don’t think that you can overstate or understate the importance of the trade, both financial and goods trade, between Dubai and Iran,” Kimmitt said.
>That reliance runs deeper than goods on ships, given Dubai’s standing as a global financial hub, which Kimmitt said has long given Iran a discreet way to move money around international sanctions, cutting off a route Tehran has long relied on for years.