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Circumvention of financial sanctions via Dubai's trade and commerce: the case of Iran

Author

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  • Fabian Maximilian Johannes Teichmann
  • Marie-Christin Falker

Abstract

For over 15 years, Iran has been one of the most heavily sanctioned countries due to its uranium enrichment policy. Since 2018, political tension between Iran and the West has increased significantly with Iran seemingly determined to adhere to its nuclear policy. This paper demonstrates that one main reason for the ineffectiveness of Western financial sanctions against Iranian public officials is the country's proximity to Dubai, which is used to circumvent economic and financial sanctions. To investigate the circumvention of financial sanctions via Dubai, a qualitative study with 10 presumed white-collar criminals and 18 compliance officials was conducted. Based on interviews with both groups, concrete methods for the circumvention of financial sanctions were reconstructed. The findings were tested quantitatively using a questionnaire that was distributed to 1,200 compliance officers. It was found that current financial sanctions against Iranian public officials can be circumvented relatively easily via Dubai's trade and commerce.

Suggested Citation

  • Fabian Maximilian Johannes Teichmann & Marie-Christin Falker, 2021. "Circumvention of financial sanctions via Dubai's trade and commerce: the case of Iran," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 14(6), pages 644-659.
    • Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:6:p:644-659
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