UAE Halts All Trade With Iran After Alleged Missile Attack

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Abu Dhabi : The United Arab Emirates has suspended all trade, commercial exchanges and financial transactions with Iran indefinitely after Tehran launched two ballistic missiles towards the country. Iran has rejected the allegation as baseless.

The UAE Foreign Ministry said the trade suspension was necessary because of escalating threats to regional peace and security.

The UAE Ministry of Defence said its air defences detected two missiles launched from Iran. One fell outside UAE territorial waters, while the other landed inside them. The ministry said the missiles were targeting maritime traffic and vowed to protect the country and regional navigation.

Iranian Foreign Ministry spokesman Esmaeil Baghaei denied the accusation and suggested it could be a 'false flag operation.'

The decision to suspend trade with Iran comes amid a wider conflict involving Iran, the US and Israel and follows recent UAE accusations that Iranian forces attacked two ADNOC vessels in the Strait of Hormuz. Iran has not claimed responsibility for those attacks too.

The UAE had already suspended direct cargo shipping with Iran in March before trade through Dubai’s Jebel Ali Port resumed in late June.

The latest embargo could have a major impact on Iran because Dubai has become a key trading and financial hub for the country, handling a significant share of its imports and providing channels for financial transactions despite international sanctions.

The move also comes as the US maintains a naval blockade around Iranian ports and shifts towards greater economic pressure on Tehran.

Pic Credit: AFP