🖋 BBC monitoring department

The ongoing conflicts in the region have once again put Iran's economic relations with its neighbors at the edge of the Persian Gulf under the microscope.

Iran has economic relations with all six member states of the Persian Gulf Cooperation Council, although the scope and nature of these relations differ greatly. The United Arab Emirates accounts for the majority of Iran's trade with the region, while Oman, Qatar, Kuwait, Bahrain and Saudi Arabia have smaller and more limited economic relations with Iran.

The importance of the Persian Gulf countries for Iran goes beyond bilateral trade. For many years, this area has been a center for Iranian businesses and financial networks trying to find a way to operate under the conditions of Western sanctions.