Bloomberg: The United Arab Emirates government is taking steps to prevent Iran from exploiting bilateral economic ties to evade international sanctions aimed at preventing nuclear proliferation, U.S. officials said.
By Rebecca Christie
Nov. 10 (Bloomberg) — The United Arab Emirates government is taking steps to prevent Iran from exploiting bilateral economic ties to evade international sanctions aimed at preventing nuclear proliferation, U.S. officials said.
UAE is sustaining some economic damage from its efforts to comply with international obligations under United Nations sanctions against Iran, two officials told reporters, speaking at the end of Treasury Secretary Timothy F. Geithner’s visit to Abu Dhabi. One official said the economic impact is causing pain for certain enterprises, if not heavy damage to the country’s overall economy.
The U.S. Treasury chief met yesterday with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan during a brief visit to UAE, between events this week in New Delhi and Singapore, en route to the Nov. 11-12 Group of 20 leaders summit in Seoul.
Geithner also met with UAE’s Foreign Minister Abdullah bin Zayed al-Nahyan, Central Bank Governor Sultan bin Nasser al- Suwaidi and Minister of State for Financial Affairs Obaid Humaid al-Tayer, the U.S. Treasury Department said.
U.S. Treasury officials are traveling extensively in the Middle East to rally support for sanctions aimed at cutting off funds for Iran’s nuclear regime. Iran has said its nuclear program is for civil energy purposes, and Brazil and Turkey have opposed some of the U.N. penalties on the grounds that threats are ineffective.
While in Abu Dhabi, Geithner and his team discussed UAE’s experiences with, and challenges from, implementing the sanctions, one of the U.S. officials said. This ties into U.S. efforts in Turkey and Iraq, the official said.
UAE is not asking for any of its obligations to be waived, or for any easing of the actions required by international sanctions, the official said.