UAE suspends trade with Iran after missile claims

The United Arab Emirates has suspended all financial and economic transactions with Iran, citing a missile threat and military escalation by Tehran. Iran's foreign ministry rejected the UAE's statement, describing it as baseless.

The UAE's Defense Ministry stated that assessments showed the missiles targeted maritime traffic, though it was unclear if they were aimed at Emirati ships or territorial waters. Iran's Foreign Ministry spokesperson, Esmail Baghaei, denied any missile launches toward the UAE.

This move by the UAE is intended to further isolate Iran, which is already facing American sanctions. The UAE cited regional escalations that undermine regional and international peace and security as the reason for halting all trade, commercial exchanges, and financial transactions with Iran until further notice.

Afra Al Hameli, Director of the Strategic Communications Department at the UAE Ministry of Foreign Affairs, said the UAE was committed to dialogue and cooperation to advance peace, stability, and prosperity in the region. Anwar Gargash, diplomatic advisor to the UAE president, stated that rumors about financial facilities being provided to Iran were false and part of media campaigns.

The UAE was drawn into the wider war in the region which began in February with U.S.-Israeli strikes on Iran. Tehran's attacks on UAE soil stopped in May, while they persisted in neighboring Kuwait and Bahrain. Attacks at sea on its vessels did not stop. Abu Dhabi National Oil Company (ADNOC) reported being significantly impacted by unprovoked attacks on its vessels since the start of the conflict.