Despite attacks and US sanctions: Iranian banks operate in the UAE
The Financial Times reveals that several economic organizations of the Iranian government continue to operate freely in a country that has been attacked by the Islamic Republic. Citizens in Iran are furious over the fuel price hike: "The only thing that doesn't go up is our salary."
Several large Iranian economic organizations are still operating in the UAE, despite US sanctions and Washington's demand for its allies to support the move, as revealed today, Saturday, by the British newspaper Financial Times.
Two leading Iranian banks, Bank Melli and Bank Saderat, both of which are under US sanctions, remain open and are serving customers. US Treasury Secretary Scott Bessent has called for every branch of Bank Melli to be closed worldwide. Together, these two banks have more than a dozen branches in the United Arab Emirates.
An employee of Bank Melli said that some clients—whether from Iran, Russia, or locals—were initially worried about the fate of their deposits, but so far there has been no noticeable impact on daily financial transactions, including loans and securing letters of credit. The bank recently renewed its license with the Central Bank of the United Arab Emirates, she said.
"Business is not good and there are very few borrowers, but the whole world is affected," said the Bank Melli employee, noting that she has worked at the bank for more than two decades and remembers previous rounds of sanctions.
"It cannot be that everything gets more expensive"
In Iran, anger is growing following the decision of President Masoud Pezeshkian to double the price of fuel for private consumers. The Iranian news network Iran International reported the voices of citizens who are furious about the price hike and express concern about the continued galloping inflation in the country.
One user wrote: "The problem is not the price of 10,000 tomans for gasoline... this gasoline price acts like a bomb; the price of all goods will rise several times over."
Another user, referring to the fact that incomes remain stable, wrote: "You are making everything several times more expensive, while approving salaries based on the increase. It cannot be that everything gets more expensive but salaries remain stable."
Others warned against rising rent, transportation costs, and food prices, noting that even those who consume little gasoline directly will pay the price of this increase.
