President Donald Trump’s effort to squeeze Iran’s economy hinges on the UAE curbing the financial and trading networks that have made Dubai a major gateway for Tehran to global markets, the Wall Street Journal reported on Wednesday.
The UAE supplied more than 30% of Iran’s imports in 2024, worth about $21 billion, according to the World Trade Organization, while Dubai has long served as a financial hub for Iranian companies and individuals seeking to bypass Western sanctions, the report said.
US officials have pressed the UAE to target Iranian financial networks, including those linked to the Islamic Revolutionary Guard Corps, arguing that disrupting money flows could have a greater impact on Tehran than the US naval blockade of Iranian ports, according to people familiar with the matter, the report added.
President Trump’s effort to squeeze Iran into submission will depend heavily on curbing one of the country’s biggest economic lifelines: Dubai. https://t.co/5KvVM8Wami
— The Wall Street Journal (@WSJ) August 19, 2026
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