UAE suspends trade and financial transactions with Iran
The UAE on Wednesday announced it was suspending all activities, trade exchanges and financial transactions with Iran. "The United Arab Emirates rejects all claims regarding the status of its economic relations with the Islamic Republic of Iran , while reaffirming its steadfast commitment to dialogue, co-operation and regional integration as essential means to enhance peace, stability, and…
On Wednesday, the UAE announced it would suspend all economic ties and financial dealings with Iran. The United Arab Emirates has no stance on the economic relationship with the Islamic Republic of Iran, but emphasizes dialogue, cooperation and regional integration as vital to peace, stability and prosperity across the region, according to a statement from Afra Al Hameli, head of strategic communications at the Ministry of Foreign Affairs.
All trade, commercial exchanges, and financial transactions with Iran are suspended, Ms Al Hameli stated. The suspension is a response to regional developments that threaten peace and security in the area. The UAE remains dedicated to preserving the legitimacy of the global financial system, adhering to international law and the highest global standards, she added.
Iran has been responsible for several attacks against the UAE during its ongoing conflict with the US. On Tuesday, the Ministry of Defence confirmed two ballistic missiles launched from Iran, one landing outside UAE waters and the other within. At least a dozen people have died and over 200 have been injured in the conflict.
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