UAE

"Iranian officials declined to name the lessor involved, but industry sources said in September that Iran was in advanced talks with the United Arab Emirates' Dubai Aerospace about helping to finance the purchase. "We have a deal to finance the first 17 aircraft," a senior Iranian official told Reuters, without elaborating." (Reuters, "Iran's Airbus jet purchase gets boost from lease finance deal - sources," 11/7/2016).

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Dubai Aerospace is listed as a confirmed participant at the Iran Aviation Finance Summit that took place from September 18-19, 2016 in Tehran, Iran. In addition, DAE Dubai Aerospace CEO Firoz Tarapore, at the CAPA Iran Aviation Finance Summit, stated (18-Sep-2016) the leasing company views Iran as a "very large market that has been shut out from products that they need". Working in Iran also involves "navigating through a set of issues that are not seen in other jurisdictions” and opening up the market is progressing and a "matter of time", the process "has been frustrating and slow". (CAPA Center for Aviation News, "DAE Dubai Aerospace sees Iran as 'very large market,'" 9/19/2016).

"Hakan Agro DMCC, which already supplies dairy products to Iran, is planning to expand its business in the country to grains, Scott Wellcome, a trader at the Dubai-based company, said in an interview in Geneva." (November 2015)
 

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"Iran is about to open for business, and the world's grain traders are lining up. Food wasn't subject to sanctions, but the rules created enough difficulty to keep out many grain suppliers. Now, with world powers expected to lift restrictions as early as next year, new companies are entering the market... Hakan Agro DMCC, which already supplies dairy products to Iran, is planning to expand its business in the country to grains, Scott Wellcome, a trader at the Dubai-based company, said in an interview in Geneva. Iran could become a 'big hub' for the Middle East and North Africa region and has the land to expand storage facilities, he said."

"DP World, one of the world’s largest port operators, said on Thursday it is talking to Iranian authorities about starting port operations in the country. The company is interested in Iranian port operations on the Caspian Sea and in the Gulf, Chairman Sultan Ahmad Bin Sulayem told reporters on a conference call on Thursday. 'Iran has a great land bridge of rail that will connect the Silk Road … and we figure with our ports in the Gulf we need to go through Iran,' he said. Two out of DP World’s three ports in the UAE, including flagship Jebel Ali, are in the Gulf and it has port operations on the Caspian Sea in Kazakhstan. The port operator is just one of many multinational firms that have expressed interest in investing in Iran once sanctions are lifted... Bin Sulayem said he visited Iran two weeks before the agreement was reached. 'We are very interested in the Iranian market and we believe it has great potential,' he said." (Gulf News, "DP World in talks to operate ports in Iran," 8/27/15)

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"DP World, one of the largest port operators in the world, is weighing investments of up to $1 billion in Iran, the IRNA news agency quoted officials as saying. A delegation from the Dubai-based company, including its chairman and executives and their British partners, is visiting Iran on a three-day trip to study investment opportunities, it said. On Tuesday, they visited the Caspian port of Bandar Anzali, the Qeshm island in the Persian Gulf and Chabahar on the Gulf of Oman to assess trade capacities. 'The Emirati delegation will be examining the capacities of the three free trade zones for an investment of $500 million to $1 billion,' deputy head of the Chabahar Free Trade Zone Mohsen Mohammadi Moin said." (Press TV, "Top port operator weighs Iran investment," 7/8/215)

"Dubai’s Emirates operated an early morning services to Tehran on Friday, according to its website." (Reuters, "Factbox: Flights to Tehran canceled after Canada says Iranian missile brought down Ukraine jet," 1/10/2020).

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"The opening of a new air corridor between two neighboring countries rarely captures the attention of the world's media. But when Emirates Airline launched flights from Dubai to Mashhad on 1 September, everyone knew the UAE flag-carrier was thinking about much more than its own bilateral links with Iran. Air traffic between the two countries has been rising since long before July's landmark nuclear agreement... FlyDubai has followed suit by expanding its Iranian network from two to nine destinations this year, while Etihad has more than doubled frequencies on its Abu Dhabi-Tehran route. Much the same script is being followed across the water in Doha, where flag-carrier Qatar Airways has grown seat capacity on its three Iranian routes by 30% since last summer." (Al Arabiya, "Iran plays catch-up in Gulf aviation boom," 9/13/15) 

"Ras Al Khaimah-based RAK Ceramics has said it wants to expand its manufacturing operations in Iran. According to a report from The National, the Abu Dhabi-listed company fully acquired its Iranian business last August, which was financed by the World Bank when it started in 2003. Nour Eldeen Sherif, an equity analyst at Cairo’s MubasherTrade, said: “Iranian operations are on hold until the company can provide financing facilities for its plant in Iran, but the banks are too shy to deal with the banking sector there. “Once this issue is handled, we expect operations to gradually recover as the Iranian ceramics market is huge and promising.”" (August 9, 2016).

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"UAE-based RAK Ceramics, one of the world's largest makers of ceramic goods, said on Wednesday it had fully acquired its subsidiary in Iran, the latest investor seeking opportunities after Tehran's nuclear deal. As a close neighbour to Iran, the UAE stands to be a major beneficiary of closer trade relations once sanctions against the Islamic Republic are lifted as part of the July 14 deal with big powers mandating limits on its disputed nuclear activity. RAK Ceramics, which has a distribution network covering around 160 countries, said in a statement it had 'a long term vision for the Iranian market both domestically and as an export centre in Central Asia as the sanctions regime gets lifted'." (Arabian Business, "UAE's RAK Ceramics fully acquires Iran unit," 8/5/15)

Has acted on behalf of the Government of Iran to smuggle U.S. bank notes into Iran; collaborated with Azizullah Asadullah Qulandary, an Afghan national, and Seyed Kamal Yasini to deliver U.S. currency, in violation of U.S. sanctions; Yasini and Hossein Zeidi, both Iranian nationals, had been contracted to convert Iranian government funds and foreign currency into U.S. dollars. As of December 2014, had converted over $250 million in Iranian government assets into U.S. currency; the money was reportedly transported to Tehran from the United Arab Emirates by hand via courier.

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"The United States added nine individuals and entities to its Iran sanctions blacklist in a move condemned Wednesday by Tehran as a 'blatant violation' of goodwill amid long-running nuclear talks. The US Treasury named five men from Iran and elsewhere as well as Dubai-based Belfast General Trading for sanctions violations linked to efforts to support the Islamic republic's acquisition of US currency. It said Belfast General had converted more than $250 million of Iranian government-held currencies into dollar notes which were then delivered to Tehran." (Agence France-Presse, "US adds nine to Iran sanctions blacklist," 12/31/14)

"Bank Melli of Iran and the Central Bank of the United Arab Emirates (UAE) have agreed to boost bilateral ties. The agreement was reached during a meeting between the Managing Director of BMI Abdolnaser Hemmati and UAE Central Bank Governor Mubarak Al Mansouri in Abu Dhabi, Iran's Fars news agency reported on Dec. 22. During the meeting, Al Mansouri said that the UAE Central Bank will help BMI to widen the activities of its branches in UAE. BMI has seven branches in different cities across UAE." (Trend, "Iran's BMI, UAE Central Bank to expand ties," 12/22/14)