UAE halts trade with Iran

The United Arab Emirates announced the suspension of all commercial and financial activities and exchanges with Iran until further notice, as part of the regional escalation that the UAE has believed undermines peace and security. This came after UAE air defenses detected two ballistic missiles headed from Iran, although Iran denied responsibility, considering the accusations false. The UAE is Iran's second-largest trading partner, exchanging between $27 billion and $29.1 billion annually, with plans to raise that figure to $30 billion. The UAE reaffirmed its commitment to dialogue and regional cooperation to ensure stability, while also emphasizing the importance of protecting the international financial system and countering any security threats.

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