The United Arab Emirates on Wednesday suspended all trade, commercial exchanges and financial transactions with Iran, citing escalating regional tensions and concerns over threats to regional and international security.
UAE Foreign Ministry communications director Afra Al Hameli said the measures would remain in place “until further notice", while rejecting allegations about the status of economic ties between the two countries.
The announcement came shortly after the UAE accused Iran of firing two ballistic missiles towards the Gulf, which it later said were targeting “maritime navigation".
“All trade, commercial exchanges, and financial transactions with Iran have been halted until further notice," Al Hameli said, adding that the UAE remained committed to dialogue, cooperation and regional integration as a means of promoting peace and stability.
The UAE also said it remained committed to protecting the integrity of the international financial system in line with “international law and the highest global standards".
Earlier, the UAE’s defence ministry said its air defence systems had detected two ballistic missiles launched from Iran. One fell outside the UAE’s territorial waters, while the other fell within them.
A later assessment by the ministry said both missiles had been aimed at maritime navigation and fell into the sea.
“Assessments carried out showed that the two ballistic missiles detected coming from Iran were targeting maritime navigation and fell into the sea," the statement said.
Iran had not immediately commented on the UAE’s allegations. Tehran has, however, warned that the Strait of Hormuz would remain closed until it reaches a peace agreement with the United States. The strategic waterway is a key route for shipping leaving UAE ports and the wider Gulf.
The latest developments mark a sharp escalation in tensions between the UAE and Iran. When the Middle East war began on February 28, the UAE said it faced nearly 3,000 Iranian missiles and drones, more than any other country in the region.
The UAE subsequently reported no attacks after a memorandum of understanding came into effect in June. The arrangement has since expired, while other Gulf states have continued to report attacks.
Source: ANI