Morteza Masoumzadeh, vice president of the Iranian Business Council in Dubai, has stated that the latest sanctions against Iran would harm trade with the United Arab Emirates (UAE), according to Business Intelligence Middle East.
The statement came after UAE authorities said that the embargo should not be allowed to hurt legitimate commerce.
'The reality is that this kind of sanctions on Iran will have a negative impact on the trade in the UAE, particularly in Dubai – there is no question about it,' he said.
He added that the sanctions had increased the cost of business and created insurance problems for shipping goods.
A number of Dubai-based fresh produce importer-exporters told Fruitnet.com that they had, as yet, seen no effect on their business activities with Iran as a result of the sanctions.
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