Wednesday, September 17, 2008

U.S. sanctions hit Iranian entrepreneurs in Dubai

In the IHT, here
"...After visits from President George W. Bush, Vice President Dick Cheney and the Treasury undersecretary, Stuart Levey, UAE officials have dramatically reduced the number of business licenses granted to Iranian citizens, according to U.S. officials and a Boston Globe analysis of business statistics.
Fewer than 1 percent of the 10,800 businesses registered in Dubai during the first three months of 2008 had an Iranian partner, according to an analysis of statistics from the Dubai Chamber of Commerce, down from about 6 percent in 2007 and 2006....while intended to cripple Iranian banks and corporations connected to the regime, the policy also punishes small businesses owned by individual Iranians who have no political connections and are often at odds with their government."

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