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UAE suspends all trade with Iran 'until further notice' after accusing Tehran of firing ballistic missiles toward country
New York Post • • world
Key Points:
- The United Arab Emirates has halted all trade and financial transactions with Iran "until further notice" after accusing Tehran of firing ballistic missiles toward the UAE, causing nationwide alerts and safety evacuations.
- Iran denied launching any missiles toward the UAE, but the move significantly increases Iran's economic isolation amid existing US sanctions and a blockade.
- Prior to the conflict, the UAE was a major trade partner for Iran, accounting for over 30% of its imports and nearly 13% of its exports, serving as a crucial re-export hub.
- Experts warn that the embargo could also harm the UAE's economy, which relies heavily on regional stability to attract business, finance, tourism, and investment.
- The trade suspension coincides with US plans to intensify economic pressure on Iran, with President Trump describing the new measures as "the most crushing economic operation ever taken against any country."
