UAE suspends trade and financial ties with Iran after missile detection

The United Arab Emirates (UAE) has suspended all commercial, trade, and financial dealings with Iran until further notice, citing the detection of two Iranian ballistic missile launches targeting its territory. The Ministry of Foreign Affairs announced the decision, emphasizing that the move is a response to regional tensions that threaten peace and security.

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In light of regional tensions that undermine regional and international peace and security, all commercial exchanges and financial transactions with Iran have been suspended until further notice.

According to the UAE's Ministry of Defense, air defense systems detected the missile launches originating from Iran. One missile reportedly landed outside the UAE's territorial waters, while the second impacted within them. Subsequent evaluations indicated that the missiles were aimed at maritime traffic in the region.

Afra Al Hameli, director of Strategic Communications at the UAE's Ministry of Foreign Affairs, affirmed the country's commitment to dialogue, cooperation, and regional integration as essential tools for promoting peace, stability, and prosperity. She also stressed the UAE's dedication to upholding the integrity of the international financial system and adhering to international law and standards.

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The UAE maintains its commitment to dialogue, cooperation, and regional integration as essential means to promote peace, stability, and prosperity in the region.

The suspension comes amid heightened regional tensions. The UAE has previously reported Iranian attacks targeting vessels of its state oil company transiting the Strait of Hormuz. The announcement also coincides with statements from the U.S. President indicating no ongoing or scheduled talks with Iran, following the expiration of a 60-day understanding aimed at achieving peace.

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The missiles had the objective of targeting maritime traffic.