UAE Halts All Trade With Iran After Missile Strike on Shipping Lanes

The United Arab Emirates has suspended all trade and financial transactions with Iran after Iranian ballistic missiles targeted vessels near its territorial waters, escalating tensions in the Strait of Hormuz. The UAE’s defence ministry confirmed two missiles were launched from Iran on Tuesday, with one striking within its maritime boundaries. The decision to cut ties with Iran follows weeks of attacks on UAE-linked shipping, particularly vessels operated by state oil company Adnoc. These zones, known for their lax regulatory oversight, have been instrumental in helping Iran evade sanctions by rerouting…

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