UAE halts all trade, commercial and financial transactions with Iran
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The UAE suspended all trade, commercial and financial transactions with Iran until further notice on Wednesday. The move followed the UAE defence ministry's report that two ballistic missiles launched from Iran targeted maritime traffic, one landing inside UAE territorial waters. Iran denied launching the missiles.
Key Facts
- The UAE Ministry of Foreign Affairs said all trade, commercial exchanges and financial transactions with Iran have been halted until further notice.
- The UAE Ministry of Defence reported that two ballistic missiles launched from Iran targeted maritime traffic, with one landing inside UAE territorial waters and the other outside.
- Iran's foreign ministry spokesman Esmail Baghaei said Tehran categorically denies launching missiles toward Emirati territory.
- UAE authorities say nearly 3,000 missiles and drones have been directed at the country since the war began on Feb 28.
- The last UAE Defence Ministry confirmation of an Iranian attack was in May, when Tehran fired 15 missiles and four drones at the country.
The Trade Suspension
The UAE's Ministry of Foreign Affairs said on Wednesday that all trade, commercial exchanges and financial transactions with Iran have been halted until further notice. The statement, carried by state news agency WAM and attributed to Strategic Communications Director Afra al-Hamili, said the move was taken 'in light of escalations that undermine peace and security in the region'. The decision followed the UAE Ministry of Defence's report that two ballistic missiles launched from Iran targeted maritime traffic. No further details on implementation were immediately disclosed.
The Missile Incident
The UAE's air defence systems detected two ballistic missiles launched from Iran on Aug 18, with one falling outside the country's territorial waters and the other landing within them. The Ministry of Defence said the missiles were 'targeting maritime traffic' and vowed to 'resolutely confront any attempt to undermine the security of the nation or maritime navigation in the region'. Residents in Dubai received a missile threat alert as air defence systems responded, and the Interior Ministry declared the situation safe shortly afterward. The UAE's air defence forces remain on high alert, ready to respond to any security threats, the ministry said.
Iranian Denial
Iran's foreign ministry spokesman Esmail Baghaei said Tehran categorically denies launching missiles toward Emirati territory. Baghaei said the allegations contradict the principle of good neighbourliness and hinder efforts to build trust between the region's countries. Iran also suggested the incident was a 'false flag operation', according to Al Jazeera. Baghaei called on all sides to refrain from unfounded accusations and to take into account the ongoing US and Israeli actions in the region.
8 sources
UAE halts all trade, commercial and financial transactions with Iran
