Saudi Gazette - Western sanctions continue to inflict fresh damage to the Iranian economy:
"Dubai’s non-oil trade with Iran shrank 12 percent in the first half of 2013, a sign that Western sanctions continue to inflict fresh damage on the Iranian economy, data showed on Thursday.
Dubai, across the Gulf from Iran and home to tens of thousands of ethnic Iranians, has long been a major commercial hub for the Iranian economy, re-exporting consumer goods from other countries to Iran.
This role suffered after US financial sanctions, imposed in late 2011 over Iran’s disputed nuclear program, caused banks in Dubai and around the world to cut back sharply on Iran-related business."
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