Iranian state TV denied claims Saturday that the country had banned extending letters of credit to finance imports from the UAE. The Mehr news agency had reported on Friday an announcement from Parliamentarian Gholam-Reza Mesbahi-Moghaddam that such financing had been banned. Additionally, the Iranian media had reported Tuesday that all trade between the two countries would be suspended. The UAE has been a conduit of goods to Iran over the course of the sanctions against it.
� 2011 Al Bawaba (www.albawaba.com)
Source: http://www.albawaba.com/business/conflicting-reports-iranian-ban-trade-uae-406555
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