UAE Halts All Trade and Financial Links with Iran After Reported Missile Launch

The United Arab Emirates said it has paused all trade and financial transactions with Iran after two ballistic missiles were reportedly launched from Iranian territory toward UAE waters, where they fell harmlessly into the sea. The UAE described the move as an "indefinite suspension" of trade "in light of regional escalations that undermine regional and international peace and security."

Iran’s foreign ministry denied that Tehran launched the missiles, with spokesman Esmail Baghaei rejecting the claim. The incident occurs amid stalled U.S.-Iran negotiations and a lapse in the 60-day cease-fire agreement that expired earlier this week. President Donald Trump confirmed that the United States is not currently engaged in talks with Iran and has no plans to resume them.

Tensions in the Gulf have risen since earlier drone and missile attacks by Iran on the UAE, which, although largely intercepted, impacted tourism and aviation. The Strait of Hormuz, a critical shipping lane, remains under low traffic after a recent cargo vessel attack that resulted in one death.

Separately, reports indicate Iran has discussed potential attacks on U.S. assets in Europe if the conflict escalates, citing possible targets in Bulgaria and Cyprus.