Economic sanctions imposed on Iran have begun to bite as the value of its currency is collapsing, Iranian businessmen have told Gulf News.
An Iranian official on Tuesday told its national radio that the Islamic Republic imposed a ban on imports from the UAE ? which the government later denied. But nonetheless Iranian traders in Dubai have reported a 40 per cent decline in transactions due to the tougher sanctions.
� Al Nisr Publishing LLC 2011. All rights reserved. Source: http://www.albawaba.com/sanctions-hit-iran-firms-harder-406402
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