As U.S. sanctions are reimposed on Iran, one country that could be affected by the measures is the United Arab Emirates. The UAE's biggest city -- Dubai -- has long been a major re-export hub for its neighbor to the north. But, there's evidence that some Iranians are moving their businesses elsewhere as trade becomes more difficult. Nawied Jabarkhyl reports.

Lining up on the shores of the Dubai Creek. Traders from southern Iran pack their boats here with goods to sell back home. Exports and re-exports from the UAE to Iran last year totaled $17 billion, with most of the goods passing through Dubai. However, business between the two countries is slowing.

HOSSEIN ASRAR HAGHIGHI, FOUNDING MEMBER IRANIAN BUSINESS COUNCIL DUBAI "Trade has dropped down. At its peak years ago, Iran used to be the first re-export destination of the UAE. Nowadays, hardly the total trade between Iran and the UAE, the direct one, goes to something around 5 to 6 billion US dollars."

The latest U.S. sanctions will make it harder for international companies to deal with Iran. That could provide Dubai with an opportunity to serve as a key hub for exports to the Islamic Republic.

NAWIED JABARKHYL DUBAI "For centuries, boats like this one have been transporting goods between Dubai and Iran, which is only about 150 kilometers away from here. That historic trade relationship between the two countries could be impacted by these latest sanctions, especially as the UAE has been a strong supporter of the measures against Tehran."

Trade sources tell us that as a result of the UAE's tougher stance on Iran in recent years, hundreds of Iranian businesses have already moved to other countries in the region, mainly because of banking difficulties.

HOSSEIN ASRAR HAGHIGHI, FOUNDING MEMBER IRANIAN BUSINESS COUNCIL DUBAI "Transfer of funds or payment of whatever you buy is the blood of each trade. And if they cannot do that one, naturally, they look for alternatives."

The sanctions could be a positive for some businesses though. Iran's Rial has lost almost half of its value since April, shortly before U.S. President Donald Trump announced the measures. That's led some Iranians to look at gold as a safe haven. Abbas Mozafarian's family-run jewellery business was founded nearly 200 years ago, and has shops in Dubai. He thinks the long-term impact of the U.S.' decision will be negative.

ABBAS MOZAFARIAN, CHAIRMAN MOZAFARIAN JEWELLERS "We're talking about the people who have got the money, maybe they can buy gold or diamonds or some other items which can keep the value and gets better. But, the people who have no access to a lot of money – which is the majority of the people – they're really suffering."

We reached out to officials in Dubai to ask them about the impact of the sanctions. There was no response. But there are concerns that the city's economy could suffer as dealing with one of its oldest trade partners becomes riskier. Nawied Jabarkhyl, CGTN, Dubai.