Tuesday, July 10, 2007

Dubai Dhow Captains Defy U.S. Sanctions, Pirates With Shipments to Iran

(Bloomberg) -- Sailors with skin baked to leather by
the Persian Gulf sun stack Hewlett-Packard Co. laser-jet printers
alongside a 40-foot wooden dhow in Dubai Creek as Ali Reza, an
Iranian merchant, watches them sweat.

From his base in Dubai, the second-biggest member of the
United Arab Emirates, Reza ships General Electric Corp.
refrigerators and other American-branded products to Iran, even
though re-exporting them is banned under U.S. sanctions. Within
days, the printers will be snapped up by buyers in Iran.


Read more at Bloomberg Emerging Markets News

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