Miad Maleki

“Iran's economy today runs based on this kind of scheme of selling oil to China and then either using the funds that are generated from sales of oil to China to pay for imports from China, but also moving some of those funds outside China to jurisdictions like UAE through exchange houses,”

Miad Maleki · said 2026-08-21 · reported 2026-08-21

Miad Maleki described how Iran sells oil to China and moves funds to jurisdictions like the UAE.

“About 80% of Iran's foreign currency exchange is done in Dubai. So Dubai has served as a major source for Iran's foreign currency,”

Miad Maleki · said 2026-08-21 · reported 2026-08-21

Miad Maleki explained Dubai's major role in handling foreign currency exchange for Iran.

“I think the Emiratis are now realizing they can't just sit on the side, the economy can't continue to take this current situation … So, I think the Emiratis are becoming more proactive at this point.”

Miad Maleki · said 2026-08-21 · reported 2026-08-21

Miad Maleki explained why the UAE is adopting a more proactive stance toward Iran.

“the UAE is going to be very instrumental in cutting off the regime's access to procuring foreign currencies, but also getting access to its reserves — so funds that it has generated from oil sales to China and are sitting in different banks.”

Miad Maleki · said 2026-08-21 · reported 2026-08-21

Miad Maleki noted the UAE's importance in restricting Iran's access to foreign currency and reserves.

“I think the UAE and some of these other Gulf countries were getting a lot of hits, or they were feeling the economic effect of Iran's escalation and closure of the Strait of Hormuz. But they were kind of sitting on the side and watching how the U.S. administration might come to some kind of an agreement or deal with the regime to put an end to the hostility,”

Miad Maleki · said 2026-08-21 · reported 2026-08-21

Miad Maleki discussed how Gulf countries initially reacted to Iranian economic escalation.

“Most of what Iran calls ‘imports from the UAE’ was never Emirati. Dubai has been basically Iran's window to the world economy,”

Miad Maleki · said date not stated · reported 2026-08-19

Maleki explained that Dubai serves as Tehran's gateway to global commerce for third-country goods.

“The UAE and China are Iran's two economic bloodlines. If UAE is serious about its economic embargo against Iran, then it'll close the one the U.S. Navy couldn't touch,”

Miad Maleki · said date not stated · reported 2026-08-19

Maleki described the UAE as one of Iran's two key economic lifelines alongside China.