Monday 4 June 2012

UAE says sanctions hurting trade with Iran | Reuters

International financial sanctions against Iran are hurting its trade with the United Arab Emirates, the UAE's economy minister Sultan bin Saeed al-Mansouri said on Monday.

"Trade with Iran was always with consumable items...We should not really stop that. The issue is with the financial transactions...regarding that, it has been affected," he told a news conference.

"If you want to export 20 tonnes of rice, the financial system does not allow you to do that." Mansouri did not elaborate.

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