perhaps another reason shrubco doesn't want to piss off the UAE-

[dysfunctional press]

the article is from last year, and talks about the then impending opening of the DIFX-

http://www.internationalreports.net/middleeast/dubai/2005/financial.html

Dubai International Financial Exchange poised to become international securities trading hub

The Dubai International Financial Exchange (DIFX) plans to open for business in September 2005 – an international bourse that aims to fill the financial void between the time zones of London and Hong Kong.
Today, the oil-rich Arab world is home to some of the most vibrant, fast-growing economies on earth, but it is still waiting for a dominant financial focal point to emerge...

The currency of the exchange will be dollars, there will be no restrictions on foreign ownership of shares or other securities, and its language of operation will be English

and although this a securities exchange/bourse, and not a commodities/petroleum exchange- for the time being- it will compete with iran's burgeoning exchange for investment capital.