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Crackdown Squeezes Iranians in Dubai

[Boston Globe] Farah Stockman - Dubai has always been the place where Iranians go to escape U.S. sanctions. When the U.S. Treasury banned key Iranian banks a year ago, Iranian businessmen flocked there to open new bank accounts. But in recent months U.S. pressure has prompted a crackdown in the United Arab Emirates, Iran's largest trading partner and home to some 450,000 Iranian citizens. Recently, UAE officials have dramatically reduced the number of business licenses to Iranian citizens and have begun to refuse to register Iranian work visas. In addition, most international banks in the UAE have stopped opening new accounts for Iranians. "The UAE is taking steps to be vigilant," said Treasury undersecretary Stuart Levey, a key architect of the banking sanctions.
2008-09-16 01:00:00
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