Emiratis won’t ditch $30 billion trade with Iran: Official

After the Saudis cut their diplomatic ties with Iran, they tried to bring on board all fellow Arab countries on the Persian Gulf in putting pressure on Iran, both economically and politically. The efforts of the Saudis do not seem to have produced results.

Masoud Daneshmand, the chairman of Iran-UAE Joint Chamber of Commerce, in an interview with Fars News Agency, said thus far the UAE has not made any decision to terminate its commercial ties with Iran.

In the UAE, political issues are mostly handled by Abu Dhabi, the capital, and trade issues are taken care of by Dubai, which serves as the country’s commercial capital and has so far made no decision to cut ties with Tehran, he said.

The United Arab Emirates is unlikely to ditch its capacity for $30 billion in trade with Iran that easily, he added.

By IFP