President Trump threatened this week to wield an “unprecedented” level of economic warfare against Iran, and Treasury Secretary Scott Bessent vowed to “collapse” the Islamic Republic regime with the “toughest sanctions in history.”
But the effectiveness of a bolstered economic campaign against Iran may rest largely on one close U.S. ally in the Persian Gulf, the United Arab Emirates.
The Emirati city of Dubai, the Middle East’s leading financial center, has long had a reputation as a hub for opaque economic activity. For Iran in particular, the city has offered ways to skirt international sanctions and gain access to vital funds
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