Abu dhabi: The UAE Ministry of Foreign Affairs has declared the suspension of all trade activities, exchanges, and financial transactions with Iran until further notice. This decision underscores a significant shift in the economic relations between the two nations.

According to National Iraqi News Agency, Afra Al Hamli, Director of Strategic Communications at the Ministry of Foreign Affairs, stated that the United Arab Emirates firmly rejects all claims regarding its economic ties with Iran. She reiterated the UAE’s commitment to dialogue, cooperation, and regional integration as critical avenues for fostering peace, stability, and prosperity in the region.

Al Hamli further explained that the suspension was necessitated by the recent regional escalation, which has jeopardized both regional and international peace and security. The UAE has halted all trade and financial activities with Iran as a precautionary measure in response to these developments.

The move follows an incident where the UAE’s air defenses detected two ballistic missiles fired from Iran. The first missile landed outside the UAE’s territorial waters, while the second missile came down within its territorial waters. The UAE remains dedicated to maintaining the integrity of the international financial system, adhering to international laws and global standards.