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Syria-Lebanon-Iran
UAE freezes 41 Iran-linked bank accounts: report
2010-06-30
The central bank of the United Arab Emirates has told financial institutions in the Gulf Arab country to freeze 41 Iran-linked accounts, in a move based on new UN sanctions on Tehran, a UAE daily reported on Monday. It came a week after another Emirati newspaper said the seven-member UAE federation was "tightening the noose" on companies the United Nations Security Council suspects act as fronts for Iran's disputed nuclear programme.

The Islamic state and the UAE have close economic and historic relations. Tens of thousands of Iranians live and work in Dubai and elsewhere in the UAE, many involved in the multi-billion-dollar re-export trade to Iran. With Iran facing growing Western pressure, Iran's ties with Dubai have drawn scrutiny from the US, which has been spearheading a drive to isolate Tehran over nuclear work the West fears is aimed at making bombs. The UAE is an ally of Washington, but Dubai's economy partly depends on trade with nearby countries such as Iran. "The UAE central bank has told all financial institutions in the UAE ... to freeze 41 accounts and stop remittances in the names of entities and individuals mentioned by the UN Security Council," the Emirates Business daily reported on its website on Monday.
Posted by:Fred

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