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Do US sanctions affect Iran and the economy of the United Arab Emirates? Do US sanctions against Iran affect the economy of the UAE? We are sending you our news news today via our news website and, starting with the most important, US sanctions affect Iran and the UAE economy. ?
The governor of the UAE's central bank, Mubarak Rashid Al-Mansouri, said that US sanctions against Iran would have a significant impact on the UAE's economy.
"We do not expect that US sanctions against Iran will have a significant impact on the UAE's economy," Mansouri said, in the hope that the GDP growth of the United Arab Emirates will reach 2.8% this year.
The central bank governor also forecast GDP growth of 4.2 percent in 2019 and inflation of 3.6 percent in the country this year, adding that third-quarter growth would be 3.1 percent and growth excluding oil of 3.3%.
Regarding the activity of Iranian banks in the UAE, Al-Mansouri said the two Iranian banks operating in the emirate are carrying out limited activities related to Iranians residing in the UAE.
On Monday, the second package of US sanctions on Iran, which Washington described as "the most severe sanctions imposed so far," came into effect on Monday. Target Iranian oil exports and cut Tehran's international financing.
Source: agencies
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Source: Arab RT (Russia today)
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