To the Point
iPhones in Tehran, Are Sanctions Working?
America's embargo on goods to Iran was imposed in 1987, although it's been tightened since. But other countries don't observe the same restrictions. That means billions of dollars to American business. Last year, the US shipped almost $12 billion worth of goods to the United Arab Emirates, the bulk of which went to Dubai.
By Warren Olney • • 1 min readAmerica's embargo on goods to Iran was imposed in 1987, although it's been tightened since. But other countries don't observe the same restrictions. That means billions of dollars to American business. Last year, the US shipped almost $12 billion worth of goods to the United Arab Emirates, the bulk of which went to Dubai. Between 30 and 40 percent of those goods are then exported, and Iran has become Dubai's number one trading partner. That raises some interesting questions, and Christopher Stewart, contributing editor to CondeNast's Portfolio magazine, went looking for answers.
