🔸The National Bank of Iran announced that it has banned activity by the National Bank of Iran in the Gulf region of this country on Wednesday, the first of Mehr.

🔸In a statement, the bank said: “These measures were taken as a result of violations related to not complying with the necessary regulations, laws, and supervisory decisions that are mandatory in the United Arab Emirates.”

🔸The institution added that these violations include not complying with the requirements of laws related to combating money laundering, financing terrorism, and financing the proliferation of weapons.

🔸The Central Bank of the United Arab Emirates has announced that all branches of the National Bank of Iran in this country will be prohibited from carrying out financial transactions destined for Iran and from Iran, including trade finance and the transfer of funds.

🔸The UAE hosts a large Iranian community, and many Iranian businesses around Dubai Creek— the historic center of trade in the city—are concentrated.

According to Reuters, prior to the suspension of financial relations, the UAE was one of Iran’s largest trading partners, and according to World Trade Organization data, about 30% of Iran’s imports in 2024, with an approximate value of $21 billion, were carried out from the UAE.