Article Link:https://www.reuters.com/markets/commodities/uae-send-delegation-iran-soon-senior-emirati-official-says-2021-11-30/
The United Arab Emirates are sending an official delegation to Iran soon. The goal of this delegation is to improve ties between Iran and the United Arab Emirates. The United Arab Emirates has said the purpose is to “turn over a new page”. The United Arab Emirates in the past has allied with Saudi Arabia against Iran. This delegation will most likely lead to more trade between the two countries. The UNited Arab Emirates recently had a small attack with Iran when Iran attacked Saudi tankers near the United Arab Emirates.The United Arab Emirates has in recent years had less of a military presence against Iran.
The decision to send a delegation to Iran is most likely heavily influenced by Iran trying to receive the nuclear deal between them and the United States. If this deal goes through there will be less trade restrictions with Iran and Iran will be able to sell more of their oil. The United Arab Emirates most likely does not want Iran to be able to sell much oil as the increased quantity will cause the price to drop. The United Arab Emirates may be trying to make a deal so that Iran does not sell lots of oil and upset the current price.
The United Arab Emirates most likely interacted with Iran as they are on opposite sides of the Persian Gulf, both very close to the Strait of Hormuz. The United Arab Emirates are worried since the upcoming deal if it comes to fruition will allow Iran to sell more of their oil. This will make it so the UAE’s oil is worth less and they gain less money while Iran will gain more. The UAE’s economy is centered around oil so any change to the status quo could upset their economy. At the same time as their rivals gain more economic power.