Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum has told BBC that the easing of sanctions on Iran will benefit all parties.

In a rare interview, Al Maktoum said: “Iran is our neighbour, and we do not want any problems.” He stressed that “everybody will benefit” from the suspension of economic sanctions against Iran.

Dubai is one of Iran’s major trade partners, and the past years of economic sanctions have restricted that relationship.

The world powers reached a deal with Iran in November to begin easing those sanctions in exchange for the suspension of parts of Iranian nuclear program.

Iran insists that its nuclear activities are peaceful, and Sheikh Mohammad was quoted as saying: “I think they're telling the truth when they say it’s just for civilian power.”

The Geneva agreement between Iran and the 5+1 is reportedly being implemented starting on January 20.