Saturday, 3 March 2012

gulfnews : Iranian firms finding a way to beat tough economic sanctions

Dubai Iranian firm AHT exports millions of dollars worth of nuts and dried fruit each month but Western financial sanctions mean it gets little money in return. Instead it is paid with other goods, such as cardboard boxes and metal cans from China.
"Most of our business right now is like this. No money is involved in the process," Mohammad Ameen, managing director of the pistachio and raisin exporter, said at an international food industry show in Dubai last month.
"We import the goods, sell the goods to the local market, get the money from the local market, and then pay my staff and my farmers."

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