U.A.E. Halts Trade Ties With Iran, Says It Was Targeted With Missiles
Part of composite article Oil Holds Gains as Hormuz Standoff Drags On; UAE Cuts Trade with Iran as US-Iran Talks Collapse View full article →
The United Arab Emirates announced it is halting trade relations with Iran, stating that it was the target of recent missile attacks. The move marks a significant shift for the Emirates, which has long served as a major commercial hub for Tehran. Analysts say the UAE has been central to Iranian efforts to bypass international sanctions, a claim that Iran denies. The suspension of trade ties could deal a heavy blow to Iran’s economy, which relies on the Emirates as a key gateway for goods and currency.