Arabic version: الإمارات تعلّق التجارة مع إيران بعد تقارير عن إطلاق صواريخ

According to Cnbc, the United Arab Emirates has paused all trade and financial transactions with Iran after reporting that two ballistic missiles were launched from Iran toward UAE territorial waters.

The UAE said Wednesday that both missiles fell into the water, causing no damage or casualties. It said the trade suspension would be indefinite, citing regional escalations that undermine regional and international peace and security. Iranian Foreign Ministry spokesman Esmail Baghaei rejected the claim that Tehran launched a missile at the UAE.

The reported incident returns the conflict to the Gulf economy’s shores after more than three months. Earlier weeks of Iranian drone and missile attacks on the UAE, most of which were intercepted, heightened tensions among residents and hurt the country’s tourism and aviation industry.

Efforts toward a U.S.-Iran ceasefire or an agreement concerning the Strait of Hormuz remain stalled. President Donald Trump said Tuesday that the United States is not in talks with Iran and has no plans to restart them. He also ruled out extending the 60-day ceasefire agreement that expired Monday after the deal effectively fell apart.

Trump has repeatedly said the Strait of Hormuz is open and operating under U.S. control, but observed ship traffic through the waterway remains extremely low. An attack on a cargo vessel transiting the strait earlier this week killed one person.