UAE suspends Iran trade after ballistic missiles detected
The UAE has suspended all trade and financial transactions with Iran following the detection of two ballistic missiles launched toward maritime traffic. This escalation follows a period of heightened tension and failed peace talks regarding shipping in the Strait of Hormuz.
Why it matters
The suspension of trade and ongoing missile threats significantly disrupt global energy shipping routes and increase the risk of regional conflict.
The United Arab Emirates' defence ministry has said that it had detected two ballistic missiles launched from Iran, the first such incident reported since a 4 May strike on the Fujairah port.
In a statement, the ministry said the missiles targeted "maritime traffic" based on its assessments.
Both missiles fell into the sea, it said.
Iran's foreign ministry spokesperson Esmaeil Baghaei rejected the statement by the UAE, describing it as "baseless".
In a statement issued after the missile threat, the UAE said it had suspended all trade activities, commercial exchanges and financial transactions with Iran until further notice, citing an escalation that it said undermined regional and international peace and security.
The missile launch comes as a 60-day window for US-Iranian peace talks expired on Monday without a breakthrough, raising fears of a new escalation in the conflict that has disrupted shipping through the Strait of Hormuz since February.
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