UAE halts trade with Iran after accusing Tehran of firing ballistic missiles

Key Points:

• Iraq’s parliament speaker Haibat al-Halbousi urged Iran to grant Iraqi oil exports special status through the Strait of Hormuz amid drastically reduced traffic since the February war, during a meeting with Iranian Parliament Speaker Mohammad Bagher Ghalibaf in Baghdad.
• US President Donald Trump threatened military action against Oman if it interferes with US efforts in the Strait of Hormuz, despite Oman’s historic role as a mediator between the US and Iran in the ongoing conflict.
• Turkey condemned an Israeli airstrike on a Syrian air base near Aleppo, disputing Israeli claims of an imminent Turkish troop deployment and criticizing the strike as an unlawful escalation, while the US also expressed concern over the incident.
• Iran’s Islamic Revolutionary Guard Corps (IRGC), a powerful military branch responsible for both foreign operations and domestic control, was highlighted amid conflicting US statements about direct communications with the group.
• The United Arab Emirates suspended all trade and financial transactions with Iran due to regional escalations, following missile incidents and attacks on UAE vessels linked to the Iran war, further straining economic ties amid rising oil prices and ongoing conflict.