The United Arab Emirates (UAE) has suspended all trade and financial transactions with Iran.
Modern.az reports that the UAE Ministry of Foreign Affairs announced in a statement that "all trade, commercial and financial transactions" with Iran have been suspended.
It was announced that the decision was made in connection with the escalation that threatens peace and security in the region and internationally.
Afraa al-Hamli, Director of the International Cooperation Department at the UAE Ministry of Foreign Affairs, stated that the decision was made against the backdrop of "escalation threatening regional and international peace and security."
According to her, the UAE will continue to fulfill its obligations regarding ensuring the security of the international financial system in accordance with international law and international standards. The decision was made at a time when military tension related to Iran is increasing in the region. On August 18, the UAE Ministry of Defense announced that two missiles were launched from Iranian territory towards the country.
According to the ministry, one of the missiles fell outside the territorial waters of the UAE, and the other landed in the territorial waters of the country. After the incident, the UAE military agency declared its full readiness to respond to any threat.
The Ministry of Defense emphasized that all necessary measures have been taken to protect the country's security, stability and sovereignty.
Thus, after the incident with the missiles reportedly fired from Iranian territory, the UAE is also imposing strict restrictions on economic relations with Tehran.
