UAE Suspends Trade, Financial Transactions With Iran 'Until Further Notice'

KUALA LUMPUR, Aug 19 (Bernama) -- The United Arab Emirates (UAE) suspended all trade, commercial exchanges and financial transactions with Iran until further notice amid escalating regional tensions, a Foreign Ministry official said.

Director of the Foreign Ministry’s Strategic Communications Department Afra Al Hameli announced the move while rejecting allegations about the state of economic relations between the UAE and Iran.

“In light of regional escalations that undermine regional and international peace and security, all trade, commercial exchanges and financial transactions with Iran have been halted until further notice,” she said in a statement.

Al Hameli reiterated the UAE’s commitment to dialogue, cooperation and regional integration as essential means of advancing peace, stability and prosperity in the region.

She also emphasised that the UAE remained firmly committed to safeguarding the integrity of the international financial system, in line with international law and the highest global standards.

The announcement came after the UAE Defence Ministry said the country's air defence systems had detected two ballistic missiles launched from Iran targeting maritime navigation.

However, Iranian Foreign Ministry spokesman Esmaeil Baqaei rejected the UAE’s claim that Iran had launched a missile at the country.

Baqaei expressed “regret over the accusations against the Islamic Republic of Iran, calling this behaviour contrary to the principle of good neighbourliness,” according to Iran's semi-official Mehr news agency.

-- BERNAMA