The United Arab Emirates has suspended all trade, commercial exchanges, and financial transactions with Iran, effective immediately. The decision, announced on August 18-19, follows Iranian ballistic missile launches targeting Emirati territory. Bilateral trade between Dubai and Tehran historically exceeded 20 billion dollars in annual imports from the UAE alone. Brent crude oil was trading near 91 dollars per barrel, reflecting the risk premium associated with this regional escalation. This rupture also undermines negotiations to unfreeze roughly 10 billion dollars in Iranian assets and any prospect of reviving nuclear talks with Tehran.
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