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The United Arab Emirates announced that all trade and financial transactions with Iran have been suspended until further notice.

Afra Ilhamli, Director of the Strategic Communications Department of the UAE Ministry of Foreign Affairs, stated that this decision was made following the escalation of regional tensions; a situation that, according to this ministry, has affected regional and international peace and security.

This decision was announced after the UAE's air defense faced two ballistic missiles launched from Iran on Tuesday, August 18. According to the UAE Ministry of Defense, one of the missiles fell outside the country's territorial waters, while the other fell within its territorial waters.

Source: Khaleej Times, citing the UAE Ministry of Foreign Affairs