The UAE is considering freezing billions of dollars in Iranian assets
Svmuu News: According to The Wall Street Journal, citing people familiar with the matter, Iran has launched more than 1,000 drones and missiles at targets within the United Arab Emirates. To punish this action, the UAE is considering freezing approximately $10 billion in Iranian assets held in the country—a move that could sever one of Iran’s most vital economic lifelines. If the UAE takes action, Iran’s access to foreign currency and participation in global trade networks would be severely restricted, further straining its domestic economy, which is already struggling with inflation. UAE officials have privately warned Iran that they may take action. According to informed officials, potential measures include freezing the assets of UAE-registered “shell companies” used to conceal trade activities, as well as launching a comprehensive financial crackdown on local currency exchange agencies used to transfer funds by circumventing formal banking channels. In addition to financial measures, policymakers are also considering direct maritime actions, such as the seizure of Iranian vessels. (Jin Shi)
Source:Odaily · Source Link
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