'Doing Business With Iran Is Risky' -- Gulf NewsAbu Dhabi: Former US intelligence specialists warned on Monday night a group of UAE businessmen and academics that doing business with Iran is risky.
"Fewer and fewer people are doing business with Iran. In fact, there are no international banks that want to cooperate with Tehran," Dr Matthew Levitt, director of counter-terrorism and intelligence at the think tank Washington Institute for Near East Policy, said at a lecture.
Levitt served as deputy assistant secretary for intelligence and analysis at the US Department of the Treasury and was in Abu Dhabi to deliver a lecture at the Emirates Centre for Strategic Studies and Research.
"You know the (Iran) threat better than me. I don't need to come here as an American and tell you that... Iran had a nine-digit finance account for terrorists... Iran messes around with financial systems." Levitt continued to provided information on why Iran should not be trusted. But much of the audience challenged his audacity to come to the UAE, a major trading partner with Iran, to convince businesses to stay away from Iran.
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My Comment: The Gulf business community only sees profit and easy money to be made with Iran. One can brag that major banking institutions do not want to do business with Iran .... but the businesses in the Gulf will only translate this situation into charging a premium to Iranian institutions who may want to do business.
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