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Iranian Business in U.A.E. Is Hurt by Sanctions, National Says

Jan. 5 (Bloomberg) -- Iranian businesses in the United Arab Emirates are feeling the impact of tighter sanctions as visas are refused, profits fall and banking becomes more difficult, The National reported.

Difficulties obtaining visas mean fewer Iranian traders have been able to make the trip to the U.A.E. in recent months and securing letters of credit from a bank is harder for Iranians, according to the report.

To contact the reporter on this story: Stefania Bianchi in Dubai at Sbianchi10@bloomberg.net

To contact the editor responsible for this story: Edward Evans at Eevans3@bloomberg.net

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