Abu Dhabi, August 22. The United Arab Emirates (UAE) has announced that it is suspending all trade and financial dealings with Iran after accusing Tehran of launching two missiles toward Emirati territory.
Afra Al Hameli, director of the UAE Ministry of Foreign Affairs’ Strategic Communications Department, said the decision was prompted by escalating regional tensions that threaten regional and international peace and security. According to a statement released by the ministry earlier this week, all trade, commercial exchanges and financial transactions with Iran have been halted until further notice.
The UAE said its armed forces detected two Iranian missiles. Both missiles ultimately landed in the water. The Emirati Defence Ministry said its air-defence systems tracked Iranian ballistic missiles, with one falling outside the UAE’s territorial waters and the other landing within them.
The Defence Ministry said the UAE remains on high alert and is prepared to respond firmly to any threat to its sovereignty, security and stability.
The missile launches came amid worsening tensions between Iran and the US, as negotiations between the two countries appeared to have broken down. The conflict, which is approaching its six-month mark, has disrupted the global economy, strained Washington’s relationships with traditional allies and contributed to higher oil and gas prices.
US President Donald Trump has also stepped up his rhetoric toward both allies and adversaries as the conflict continues to put pressure on the global economy.
On August 18, Trump warned Oman over its negotiations with Tehran, including efforts to develop alternative shipping routes around the Strait of Hormuz. He threatened military action against Oman if it obstructed US-Iran negotiations aimed at reopening the strategically important oil-shipping route.
