ABU DHABI: In an announcement issued on Wednesday, the UAE’s Ministry of Foreign Affairs announced suspension of all commercial activity with Iran until further notice. This comes in wake of regional escalation that is believed to compromise peace and stability at both regional and international levels.
UAE Rejects Claims, Confirms That UAE suspends Trade with Iran
Responding to these accusations through an official post on X, the spokesperson and Director of Strategic Communication at the UAE Ministry of Foreign Affairs, Afra Al Hameli, denied such claims about the UAE's economic ties with Iran. According to her, there have been no commercial activities or any other transaction between both nations, which came to an end, adding that the UAE remains committed to diplomacy and collaboration as critical approaches toward ensuring peace, stability, and prosperity across the Middle East region.
The UAE Suspends Trade, business dealings, and financial transactions with Iran due to escalating tensions within the region threatening peace and security both regionally and internationally, according to Al Hameli.
Al Hameli added that the UAE is fully dedicated to protecting the integrity of the global financial system, adhering strictly to international laws and best practices worldwide.
This decision comes on the heels of a statement made by the UAE Defense Ministry, which claimed to have intercepted two ballistic missiles fired from Iran into waters surrounding the region. It is evident that this recent detection played an influential role in leading to the UAE’s official cessation of economic relations with Iran amid escalating tensions within the region.
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Dubai Ports World (DPW) stated that the United Arab Emirates (UAE) had blamed Iran for the attack on its government-owned ADNOC tankers through the Strait of Hormuz. It should be noted that Iran denies any involvement in such an incident. However, the Revolutionary Guard Corps of Iran had warned all ships passing through the strait to avoid any linkages with Iran's enemies or non-compliance with Iranian directives.
Escalating tensions have emerged in the Middle East region after coordinated military attacks by the USA and Israel on Iran, who then responded by carrying out attacks within the region on several occasions, targeting countries such as the UAE where there is a presence of American troops. The current suspension of trade relations between the UAE and Iran must be viewed against this backdrop.
Iran and the US signed an agreement in mid-June through Pakistan-mediated talks, which was expected to pave the way for resolving their long-running dispute and securing a permanent peace deal. Talks fell apart after the parties failed to agree on navigating through the Strait of Hormuz, a vital international maritime passage that is key to exporting energy resources worldwide.