The United States and Dubai are negotiating an end to the desert emirate's Iranian oil imports to head off the threat of U.S. President Obama sanctioning a trade that has riled Gulf Arab oil producers, industry sources and diplomats said.
Washington in the summer tightened controls on financial transactions for importing Iranian condensate, a light hydrocarbon, as part of U.S. efforts to starve Tehran of revenues for its disputed nuclear program.
But Dubai is still buying the oil while U.S. officials encourage the Dubai-government-owned Emirates National Oil Company (ENOC) to find another source of supply.
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