UAE halts all trade and financial dealings with Iran
Abu Dhabi announced the suspension after Iran fired two ballistic missiles toward the country on Tuesday. The move severs ties with what had been a major trading partner for sanctioned Iran, as crude flow through the Strait of Hormuz has fallen to less than a quarter of pre-war levels.
The United Arab Emirates has halted all trade, commercial exchanges, and financial dealings with Iran following the Islamic Republic's attacks on several UAE-owned tankers, according to a statement released by the UAE's Foreign Ministry on Monday night. The attacks came shortly before the announcement and involved Iran firing two missiles towards the UAE; one missile struck within Emirati territorial waters, while the other landed beyond.
This decision follows a series of assaults on UAE-owned tankers and Iran's refusal to engage in talks with the US.
Iranian Foreign Ministry spokesman Esmaeil Baghaei denied responsibility for the missile launches, stating that such claims "run counter to the principle of good-neighborliness and undermine ongoing efforts to strengthen trust among regional countries and prevent a further escalation of insecurity in the region." Despite Baghaei's assertion, the Islamic Republic has launched numerous attacks across the Middle East since February 28, when the US and Israel targeted the Islamic Republic.
According to The National, at least a dozen people have been killed and over 200 injured in the UAE during the conflict.
The UAE maintains that it rejects any claims regarding the status of its economic relations with Iran, while reiterating its commitment to dialogue, cooperation, and regional integration as vital means to achieve peace, stability, and prosperity in the region, as stated in a statement by UAE Foreign Ministry's Director of Strategic Communications Afra Al Hameli on X.
Written by urgent.news from Jerusalem Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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