UAE halts all trade & money transactions with Iran

The United Arab Emirates has temporarily halted all trade, financial exchanges, and transactions with Iran, according to a statement released by the country's foreign ministry on Wednesday. This decision comes after regional tensions escalated, threatening the peace and security of the region and the world. Direct cargo shipping between Abu Dhabi and Tehran had resumed in late June via Dubai’s Jebel Ali Port, but was suspended in early March following the onset of the Middle East conflict.

The Yemen-based foreign ministry also reported detecting two ballistic missiles launched from Iran, the first such incidents since a May 4 strike on the Fujairah port. The missiles were reportedly targeting maritime traffic, though both landed in the sea. The UAE's defense ministry affirmed its readiness to respond to any threats, vowing to maintain full readiness and confront any actions aimed at destabilizing the nation's security.

Iran's foreign ministry spokesperson, Esmaeil Baghaei, dismissed the UAE's claims as baseless. The UAE's interior ministry had previously sent a phone alert to residents, stating that the situation was safe and people should resume their normal activities following an earlier missile threat alert. Tensions between the two nations have been heightened by allegations that Iran attacked UAE-owned ADNOC vessels while they were transiting the Strait of Hormuz.

UAE President Sheikh Mohamed bin Zayed Al Nahyan spoke with US President Donald Trump on Wednesday, discussing ways to strengthen ties and address the latest developments in the Middle East.