The United Arab Emirates has suspended all trade, commercial exchanges and financial transactions with Iran until further notice, the UAE Ministry of Foreign Affairs announced Tuesday.
Afra Al Hameli, Director of the Strategic Communications Department at the ministry, said the decision was taken amid regional developments that pose a threat to peace and security in the region and internationally.
Al Hameli stressed that the UAE continues to view dialogue, cooperation and regional integration as essential to advancing peace, stability and prosperity. She also said Abu Dhabi remains committed to protecting the integrity of the international financial system, complying with international law and adhering to global standards.
The UAE said it would continue backing measures designed to preserve financial stability both regionally and internationally.
The announcement followed an Emirati Defense Ministry statement that Iran had launched two ballistic missiles toward the UAE, neither of which struck land.
"UAE air defenses 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," the ministry said in a social media post.
Iran denied launching missiles at the UAE. Iranian Foreign Ministry spokesperson Esmaeil Baghaei dismissed the Emirati accusation as “baseless" and warned that “false flag operations" could be involved.
The UAE was among several countries in the region targeted by Iran after the war between Iran, the United States and Israel began in late February. Iranian attacks stopped after a ceasefire and the signing of a framework agreement to end the conflict in mid-June.
The Wall Street Journal reported in May that the UAE had secretly conducted dozens of airstrikes against Iran during the conflict in coordination with the United States and Israel. The reported targets included military and energy facilities, with the operations continuing until after the ceasefire was announced.
The newspaper had previously reported that Emirati forces carried out direct strikes against Iranian infrastructure. One of the operations attributed to the UAE targeted a major refinery on Lavan Island in the Persian Gulf.