UAE suspends trade, financial transactions with Iran after attacks

The decision follows a spate of attacks on UAE-owned tankers and Tehran's rejection of talks with the US.Follow us on GoogleIranian-made Zolfaghar missiles are displayed at Azadi Square in Tehran on August 2, 2026. US President Donald Trump said on August 1 that the United States and Israel had agreed to hold off on new strikes on Iran -- provided that a deal to end the months-long conflict is reached rapidly. (photo credit: Atta Kenare/AFP via Getty Images)ByDANIELLE GREYMAN-KENNARDAUGUST 19, 2026 12:14Updated: AUGUST 19, 2026 12:19The United Arab Emirates has suspended "all trade, commercial exchange and financial transactions with Iran" after the Islamic Republic attacked a number of UAE-owned tankers and rejected new talks with the United States, the UAE’s Foreign Ministry announced late on Monday night.Only shortly before the UAE Foreign Ministry's Director of Strategic Communications Afra Al Hameli made the statement, Iran fired two missiles toward the UAE, one of which fell within Emirati territorial waters while the second landed outside its territory.The decision follows a spate of attacks on UAE-owned tankers and Tehran's rejection of talks with the US. Shortly before the statement, Iran fired two missiles at the UAE. One landed in Emirati territorial waters, while the second landed outside its territory.Iranian FM denied that Iran was behind the launchesIranian Foreign Ministry spokesman Esmaeil Baghaei on Tuesday denied that Iran was behind the launches, claiming, according to state media, that the “allegation runs counter to the principle of good-neighborliness and undermines ongoing efforts to strengthen trust among regional countries and prevent a further escalation of insecurity in the region.”Despite Baghaei’s comment, the Islamic Republic has launched numerous attacks on countries across the Middle East since February 28, when the US and Israel attacked the Islamic Republic. According to The National, at least a dozen people have been killed in the UAE during the conflict and more than 200 injured.Iran's Foreign Ministry spokesman Esmaeil Baghaei speaks during an interview, amid the US-Israeli conflict with Iran, in Tehran, Iran, April 5, 2026. (credit: Majid Asgaripour/WANA/via Reuters)"The United Arab Emirates rejects all claims regarding the status of its economic relations with the Islamic Republic of Iran, while reaffirming its steadfast commitment to dialogue, co-operation and regional integration as essential means to enhance peace, stability, and prosperity in the region," Hameli said in a statement posted on X. Follow us on Google