UAE halts all trade and financial dealings with Iran
ABU DHABI – The United Arab Emirates has halted all trade exchanges and financial transactions with Iran “until further notice,” the state-run WAM news agency reported, citing the Foreign Ministry’s strategic communications director.
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The UAE provided no additional details. The announcement followed a statement from the Defense Ministry that it had detected two Iranian ballistic missiles targeting maritime navigation.
Regional tensions have intensified since the United States and Israel carried out joint strikes against Iran. Tehran responded by launching attacks at several locations across the region, including the UAE, which hosts US assets.
In mid-June, Iran and the United States signed a memorandum of understanding through Pakistani mediation, with the stated aim of ending their war and securing a lasting peace agreement.
Those talks have since stalled as the sides remain divided over the memorandum’s terms and the movement of vessels through the Strait of Hormuz, a vital corridor for global energy exports.
