In Answer to UN Sanctions, UAE Shuts 40 Companies having Trade Relations with Iran

Local Editor

Amid international pressure on Iran for its nuclear program, the United Arab Emirates has decided to commit itself to the sanctions imposed by the United Nations Security Council.

The UAE closed down 40 international and local firms because they violated the new U.N. sanctions on Iran.

These companies have been dealing in "dual-use" materials banned under UN resolutions and the nuclear non-proliferation treaty," the Gulf News quoted an unnamed UAE official saying.

"Operations of any company in the UAE proved to have connections with the Iranian Revolutionary Guard Corps, other entities or individuals subject to the U.N. asset freeze will immediately be shut down," the official said.

Up to 400,000 Iranians live in the UAE and the two countries have maintained active trade relations of an estimated annual 10 billion dollars trade volume.

A Western diplomat assured last week that Dubai (one of the emirates with strong trade ties with Iran) was exposed to U.S. pressure to prohibit any goods trade with Iran that could have dual civilian and military use.