[British Media: US Actions to Isolate Iran Are Affecting Dubai; Nearly $30 Billion in Trade Ties Threatened] According to the Financial Times, Dubai has served as Iran's offshore business hub for decades, providing the sanctioned Iranian economy with much-needed financial services, trade channels, and access to global markets. Now, these connections are under threat. Esfandyar Batmanghelidj, CEO of the British think tank Bourse & Bazaar Foundation, stated, "The UAE is Iran's only gateway for imports because, apart from Dubai's Jebel Ali port, Iran has no other major container ports. You really need this kind of infrastructure if you want an economy of 90 million people to keep growing." Before the war, annual trade between the UAE and Iran approached $30 billion, a significant portion of which was facilitated by the wooden junks that shaped the face of Dubai's Old Town, where Dubai's spice and gold markets are also located.
