Wednesday , March 29 2023

Do US sanctions affect Iran and the UAE economy?


Do US sanctions affect Iran and the UAE economy? Does US sanctions against Iran affect the UAE economy? We send our new news today through our news portal and, from the most important news, do US sanctions affect Iran and the UAE economy?

Governor of the UAE Central Bank Mubarak Rashid Al-Mansouri decided that American sanctions against Iran would have a major impact on the UAE economy.

"We do not make a significant impact on the UAE economy from US sanctions against Iran," Mansouri said, hoping that UAE GDP growth will reach 2.8 percent this year.

The head of the central bank also predicted that GDP growth will be 4.2% in 2019 and this year inflation will be 3.6%, adding that the growth will be 3.1% in the 3rd quarter and 3.3% increase in oil prices.

As for Iranian banks, UAE Al-Mansouri said two Iranian banks operating in Emira are engaged in limited activities related to Iranian people living in the UAE.

On Monday, the second US sanctions package for Iran, which Washington called "the most stringent sanctions so far," came into force on Monday. Targeting Iranian oil exports and ceasing international funding from Tehran.

Source: Agencies

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Source: RT Arabic (Russia today)

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