UAE suspends all trade and financial transactions with Iran indefinitely

DUBAI, United Arab Emirates — The United Arab Emirates has suspended all trade activity and the flow of goods and money with Iran until further notice, the UAE Ministry of Foreign Affairs announced. Afra Al-Hameli, Director of the Ministry's Strategic Communication Department, said the decision was taken in response to an escalation the ministry said was undermining peace and stability in the region. The statement rejected claims about the nature of the UAE's economic ties with Iran and reaffirmed the country's commitment to regional dialogue, cooperation and integration. The ministry also reiterated the UAE's determination to preserve the integrity of the international financial system in line with international law and global standards. The suspension follows an incident in which UAE air defense systems detected two ballistic missiles launched from Iranian territory. One fell inside UAE territorial waters and the other outside them, the ministry said. The move comes days after the UAE said Revolutionary Guards forces had attacked its oil tankers in the Strait of Hormuz and warned against further military escalation. No further details on the duration of the suspension were immediately available.