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United Arab Emirates cuts off trade with Iran, nixing billions
New York Post • • world
Key Points:
- The United Arab Emirates has suspended all trade with Iran, cutting off $6 billion in exports and access to vital supplies, significantly impacting Tehran's economy amid ongoing missile attacks.
- Dubai, Iran’s largest supplier and trading partner, accounted for 30% of Iran’s total imports and 70% of its fuel oil exports, making the trade suspension a major economic blow.
- The UAE’s move threatens the $21.3 billion trade relationship and Iran’s primary channel for collecting US dollars, potentially crippling the Iranian economy according to experts.
- This embargo is considered by some analysts to be even more impactful than US sanctions, as the UAE has been a crucial gateway for Iran’s international trade.
- The US Treasury Secretary has launched “Operation Economic Outcast,” urging other countries to follow the UAE’s lead and sever business ties with Iran to increase economic pressure on the regime.
