UAE halts all trade, commercial exchanges and financial transactions with Iran until further notice

​The ​United Arab ​Emirates has suspended all ‌trade ⁠activities, ⁠exchanges ​and financial transactions ​with Iran until ​further ⁠notice, the country's ‌foreign ​ministry ​said ⁠in a statement on ​Wednesday, citing ​regional escalation that ‌it said undermined regional ​and ​international ⁠peace and security.

Direct cargo shipping between the Abu Dhabi and Tehran had only resumed in late June via Dubai’s Jebel Ali Port. The UAE had suspended direct shipping in early March, just days after the Middle East war began.

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The announcement came soon after UAE's defence ministry detected two ballistic missiles launched from Iran, the first such incident reported since a May 4 strike on the Fujairah port. The ‌government said later that the missiles were targeting "maritime traffic" based on ​its assessments, adding that both missiles fell into the sea.

"The defense ministry affirms its full readiness ​to deal with any threats and firmly confront anything that aims to destabilize the state's security," it said in a statement accessed by Reuters.

Iran's foreign ​ministry spokesperson Esmaeil Baghaei rejected the claims, describing it as "baseless."

Earlier on Tuesday, the UAE's interior ministry sent a phone alert to residents stating that the situation ‌was safe and people should resume normal activities after an earlier alert warning of a missile threat. The ​Arab nation recently ​accused Tehran ⁠of attacking its state-owned ADNOC vessels while transiting the Strait of Hormuz.

UAE President speaks to Trump

UAE President Sheikh Mohamed bin Zayed Al Nahyan received a phone call from US President Donald Trump on Wednesday, according to ANI.

During the call, the two leaders discussed cooperation between Abu Dhabi and Washington and ways to further strengthen ties in support of mutual interests.

They also exchanged views on the latest developments in the Middle East and ongoing efforts to address them.