UAE Suspends Financial and Commercial Transactions With Iran After Missile Threat
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ABU DHABI, August 19 (Saudi Arabia Breaking News) — The United Arab Emirates has suspended all financial and economic transactions with Iran until further notice after reporting that two ballistic missiles were launched from Iranian territory.
Afra Al Hameli, Director of the Strategic Communications Department at the UAE Ministry of Foreign Affairs, said all trade, commercial exchanges and financial transactions with Iran had been halted amid regional military escalation.
Al Hameli also said the UAE remained committed to dialogue and cooperation in support of regional peace and stability.
The UAE Ministry of Defence said its assessment indicated that the two missiles had targeted “maritime traffic.” Both projectiles fell into the sea, according to the ministry.
Residents received telephone alerts warning of a possible threat, the first such notifications reported in several months. A subsequent message from UAE authorities said the situation was safe and normal activities could resume.
Iran’s Foreign Ministry rejected the UAE’s assessment that the missiles were directed at maritime traffic, describing the statement as “baseless.”
The suspension places renewed pressure on commercial ties in which Dubai has served as a major economic channel for Iran.
Anwar Gargash, diplomatic adviser to the UAE president, separately rejected rumors concerning the “provision of financial facilities to Iran,” calling them “false and part of desperate media campaigns.”
The last reported attack on UAE territory before the latest missile alert was the May 4 strike on Fujairah port, a major oil-export facility.
Threats to Emirati assets at sea continued after attacks on UAE territory stopped in May. Abu Dhabi National Oil Company said several of its vessels had been struck by missiles and drones while crossing the Strait of Hormuz since the regional conflict began.
ADNOC said in August that attacks on its personnel and assets were significantly affecting its operations while it sought to meet customer requirements in an “exceptionally challenging environment.”
Iran has not claimed responsibility for the attacks on ADNOC vessels. The Iranian Revolutionary Guards have previously threatened action against ships linked to Tehran’s adversaries or vessels that do not comply with Iranian directives in the strait.
The missile alert came after a 60-day period for United States-Iran peace talks expired without a breakthrough. The conflict has disrupted shipping through the Strait of Hormuz and unsettled global markets since February.
Source: Reuters
