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UAE halts trade and financial dealings with Iran
Measure follows reported detection of Iranian ballistic missiles as tensions rise after U.S.-Israeli strikes regionally
© Anadolu Agency
ABU DHABI, UAE (MNTV) — The United Arab Emirates has suspended all commercial exchanges and financial transactions with Iran until further notice, state news agency WAM reported, citing the Foreign Ministry’s strategic communications director.
Authorities did not provide details on the scope of the restrictions or say when trade and financial activity between the two countries could resume.
The announcement followed a statement by the UAE Defense Ministry that it had detected two Iranian ballistic missiles allegedly targeting maritime navigation areas connected to the country.
Tensions across the Middle East have intensified since the United States and Israel launched joint strikes against Iran, prompting Tehran to carry out retaliatory attacks in several regional countries, including the UAE, which hosts U.S. military assets.
Iran and the United States signed a memorandum of understanding under Pakistani mediation in mid-June aimed at ending the conflict and establishing a lasting peace arrangement.
However, negotiations have since stalled over disputes concerning the agreement’s terms and navigation through the Strait of Hormuz, a vital passage for global energy shipments.
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