Azerbaijan, Baku, Feb.3 / Trend, A. Taghiyeva /
Central banks of Qatar and the UAE decided to stop financing trade with Iran under the EU economic sanctions against this country, Al Arabiya TV channel quotes the central banks' representatives.
According to the report, the UAE central bank demanded the country's commercial banks stop issuing letters of credit for financing trade with Iran.
The Central Bank of Qatar also made such a demand.
About 8,000 Iranian traders are registered in Dubai, and trade turnover between Iran and the UAE totaled $5.32 billion in the first half of 2011.
The U.S. and other Western countries accuse Iran of developing nuclear weapons under cover of peaceful nuclear energy program. Tehran denies the charges, saying its nuclear program is exclusively peaceful.
The foreign ministers of 27 EU countries approved an embargo on oil supplies from Iran on Jan. 23, accusing Tehran of unwillingness to comply with international requirements and clarify several issues on the national nuclear programme. Within the new package of sanctions it is supposed that by July 1, all European Union members purchasing oil from Tehran would have to stop completely importing oil from that country.