# UAE suspends trade with Iran after alleged missile strike All commercial and financial transactions halted following reported missile launch from Iran. - **Source:** [US Top News and Analysis](https://brifing.si/source/635540e9-943e-450d-ae52-ae0bfe3b67eb) - **Published:** 2026-08-19 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/0804b686-9c89-40a1-9e91-d2fa1ec9210f ## Missile claims and trade suspension The United Arab Emirates has alleged that two ballistic missiles were launched from Iran towards its territorial waters. Both missiles fell into the water without causing any damage or casualties. However, the UAE government announced the suspension of all trade and financial transactions with Iran, citing escalating tensions. This decision marks how political tensions are affecting economic relations between the two nations. ## Economic impacts of regional tensions Earlier this year, Iran's drone and missile attacks had negatively impacted the UAE's tourism and aviation sectors. The new missile claims have ended a relatively calm three-month period in the Gulf economy. UAE officials stated that trade was suspended due to developments threatening regional and international peace. Iran has denied the missile launch allegations. ## Deadlock in US-Iran negotiations The Middle East crisis is also blocking diplomatic talks between the US and Iran. President Trump stated there are no current or planned talks with Iran. He also ruled out extending the 60-day ceasefire agreement, emphasizing ongoing disputes over control of the Strait of Hormuz. Meanwhile, ship traffic through the strait remains at very low levels. ## Tensions in the Strait of Hormuz The strategically vital Strait of Hormuz is a chokepoint for about 20% of global oil trade. The US claims the strait remains open and operational under its control. However, a recent attack on a cargo vessel passing through the strait resulted in one fatality. This incident has heightened concerns about maritime security in the region. ## US targets in Europe under threat According to Financial Times reports, Iran is considering attacking US military targets in Europe if the conflict escalates. Potential targets reportedly include US assets in Bulgaria and Cyprus. These developments highlight the risk of the conflict reaching global proportions. Sources within the Iranian regime have confirmed the seriousness of these plans. ## Trump's harsh warnings to allies In recent statements, President Trump has used strong language against long-standing allies. Targeting Oman, he threatened to ## Sources covering this story - https://www.cnbc.com/2026/08/19/us-iran-war-trump-hormuz.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._