UAE suspends all trade and financial transactions with Iran until further notice

The United Arab Emirates has temporarily halted all trade, commercial exchanges and financial transactions with Iran, the Ministry of Foreign Affairs announced. This decision comes as regional tensions rise and follows allegations about the nature of the UAE’s economic relationship with Iran. The UAE's Strategic Communications Director, Afra Al Hameli, dismissed claims about the current state of economic ties between the two nations.

She emphasized the UAE’s dedication to dialogue, cooperation and regional integration, asserting these principles are crucial for fostering peace, stability and prosperity in the region. The suspension of transactions is a response to regional escalations threatening peace and security on both regional and international levels. Al Hameli reiterated the UAE's commitment to preserving the integrity of the global financial system and adherence to international law and global standards.

The ministry further affirmed the country's intention to support initiatives aimed at maintaining regional and international financial stability. Recent reports indicate the UAE detected two missiles launched from Iran, both of which fell into the sea, with one landing within the nation's territorial waters.