He noted that "the merchants who have financial dealings with Iranian banks in Dubai, especially (Tejarat) and (Milly ) banks exposure as well as the loss itself because of the freezing of their assets by the sanctions imposed on Iran. Also these banks could not also fulfill the values of instruments which they owe for the benefit of Kurdish traders. "
"The Union is now in its consultations with its members, and we should count ourselves as a party in the subject at this stage without these traders belonging to our union bringing complaints to recover their rights," For the role of the Federation of Exporters and Importers of Kurdistan in the search for solutions to this problem, Abdul Rahman, said, asserting that "the Union's role is currently limited in bringing the two sides of the Iranian traders and our merchants in the joint meetings to consider how to treat the problem and pay the discharged amounts on time without delay."
The Kurdistani traders have business dealings, and import and export operations with their Iranian counterparts of billions of dollars and they fear that these Iranian traders would be unable to fulfill their financial obligations. According to news reports it may reach to about 4 billion U.S. dollars, which is a major setback for the Kurdish market and traders.
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