UAE's financial embargo on Iran after missile threat puts rivalry back in spotlight
DUBAI, Aug 19 - The United Arab Emirates' decision to suspend all financial and economic transactions with Iran until further notice, citing amilitary escalation by Tehran with a missile threat, has refocused the spotlight on fraught ties between the major Gulf Arab oil producer and Iran. The UAE, a close U.S. ally and regional power, was the Gulf state most heavily hit by Tehran during the early…
The United Arab Emirates has suspended all financial and economic transactions with Iran. The decision was made after a missile threat from Tehran, which the UAE saw as a military escalation. According to the Jerusalem Post, Iran fired two missiles at the UAE, one of which landed in Emirati territorial waters.
The UAE, a close US ally and regional power, has had fraught ties with Iran in the past. Al-Monitor reported that the UAE was heavily hit by Tehran during the early stages of the Middle East war, with the last reported attack on UAE soil being the May 4 strike on Fujairah port, a key oil export hub.
The suspension of trade with Iran will further isolate the Islamic Republic, which is already suffering under American sanctions and a blockade, as reported by the Winnipeg Free Press. Iran's Foreign Ministry has denied involvement in the missile launches, with spokesman Esmaeil Baghaei claiming that the allegations undermine regional efforts to strengthen trust and prevent escalation.
Brief written by urgent.news from Al-Monitor, Winnipeg Free Press, Jerusalem Post — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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