Qatar, Oman Becoming Iran's New Trade Gateways
Qatar, Oman Becoming Iran's New Trade Gateways
Sunday, February 25, 2018

Qatar, Oman Becoming Iran's New Trade Gateways

The UAE acted as Iran’s unofficial backdoor over the years Iran was under international sanctions because of its nuclear program, while distribution and supply chain channels are already carved out in these markets
Sunday, February 25, 2018

Qatar, Oman Becoming Iran's New Trade Gateways

Finance Desk

Iran is working to curb its trade ties with the UAE, replacing its traditional hub for trade activities, Dubai, with Doha in Qatar and Muscat in Oman. 
The measure has been pursued for a long time now, but the recent tensions in political relations between Iran and the UAE, along with the Persian Gulf state’s pressure on Iranian traders, mostly over value-added tax, visa issuance and banking restrictions, have made Iranian officials to pursue the plan more seriously. 
Earlier this month, the Central Bank of Iran’s deputy for international affairs referred to several obstacles created by Emirati banks for Iranian merchants, saying Iran is seeking other alternatives in the Persian Gulf region to replace the UAE in its banking transactions with Iran.
"The political stance espoused by the UAE is in opposition to Iran and bilateral relations are currently at a low ebb," Hossein Yaqoubi was also quoted as saying. 


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/qDNvVX
  1. https://goo.gl/zd3bAZ
  • https://goo.gl/QnfTps
  • https://goo.gl/kXV396
  • https://goo.gl/WSxmnY
  • https://goo.gl/PTtbJ2

You can also read ...

Experts believe the import ban would lead to a further rise in smuggling and market disruption.
The government has banned the import of 1,339 commodities...
CBI, Capital Market Agree to Control  Gold Coin Bull Run
As gold coin prices are skyrocketing, the Central Bank of Iran...
$1.5b in Tax Evasion Identified From Bank Accounts
About 63 trillion rials ($1.49 billion) worth of unpaid tax...
Mohammad Javad Zarif (4th L) addressed representatives of Iran Chamber of Commerce, Industries, Mines and Agriculture on June 24. (Photo: Bahareh Taghiabadi )
Foreign Minister Mohammad Javad Zarif assured the business...
Top US Court Restricts Police on Cellphone Location Data
The US Supreme Court on Friday imposed limits on the ability...
Iran Explores Int’l Space Collaborations at UN Meeting
Officials with Iran Space Agency participated in the two-day...
Beverage Can Imports at  $21 Million
More than 2,890 tons of beverage cans worth more than $21...
Xiaomi’s Hong Kong IPO
Xiaomi, one of the world’s leading smartphone makers, is...

Add new comment