West Asia LIVE: Trump vows 'tremendous' economic costs on Iran partners
President Donald Trump has threatened economic consequences for Iran's partners, while the UAE reported Iranian ballistic missile attacks. Tensions remain high in the region following a period of relative calm.
Why it matters
Escalating military and economic friction between the U.S., Iran, and Gulf states threatens regional stability and global oil markets.
Donald Trump’s threat to bomb Oman, a long-standing American ally in the Persian Gulf, reflects both his administration’s deepening frustration with the war against Iran and Washington’s declining influence in the region. This is the second time that the U.S. leader has threatened to attack Oman, which hosted talks between Washington and Tehran before he launched the war on February 28.
The United Arab Emirates on Tuesday (August 18, 2026) accused Iran of firing two ballistic missiles at its territory, marking the first time the Defence Ministry detected a barrage aimed at the country in months.
“UAE air defences detected two ballistic missiles launched from Iran toward the country, with the first falling outside the country’s territorial waters, while the second fell within the territorial waters,” said a statement posted by the Defence Ministry on X.
But Iran denied launching missiles towards the United Arab Emirates.
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