Word: iran
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...Obama Administration is hard at work courting Russian and Chinese support for toughening up the U.N. sanctions regime against Iran. But winning the cooperation of Dubai might be equally important in the effort to squeeze Tehran. The Emirate may have no vote on the Security Council, but Iran's tiny neighbor is widely regarded as the easiest route for smuggling illicit goods into the Islamic Republic...
...Iran has for years skirted sanctions by establishing a complex network of export operations along Dubai's quaysides, which are capable of shipping almost anything to Iran, just 100 miles across the Persian Gulf. Walk along the Dubai Creek wharf on any morning, and you'll see mountains of goods stacked in boxes, ready to be loaded onto boats bound for Iran. Most of the contents - everything from books to clothes - are legitimate, and violate no U.S. or international sanctions, which until now have focused narrowly on entities believed to be involved in Iran's nuclear program. "To the extent...
...officials say, the heavy volume of legitimate trade moving from Dubai to Iran - trade between the two countries was worth $12 billion last year, most of it imports into Iran - makes it easier to camouflage illicit items. About 400,000 Iranians live in Dubai, and about 8,000 Iranian companies are registered there, including two major banks, Bank Melli Iran and Bank Saderat Iran, both of which are currently under U.S. sanctions on the allegation that they're funding Iran's nuclear program...
...recent years, Dubai customs officials have uncovered U.S. aircraft parts bound for Iran's military, and last April U.S. officials arrested an Iranian living in California for trying to smuggle U.S. attack helicopters to Iran's military via export companies in Dubai. U.S. officials believe that any sanctions that effectively target Iran's nuclear energy and prevent Iran from importing the equipment needed to overhaul its aging oil infrastructure would have to plug the Dubai loophole. (See the top 10 players in Iran's power struggle...
...flown to Dubai about 12 times over the past two years, attempting to persuade officials of the United Arab Emirates (of which Dubai forms part) to crack down. "The UAE is really grappling with the issue," he says. "The Emirates are aware of the reputational risks with dealing with Iran, and they take those risks seriously...