UAE Halts All Trade and Financial Dealings With Iran Until Further Notice

The United Arab Emirates halted all trade and financial dealings with Iran until further notice on Wednesday, 28 Mordad 1405 (August 19, 2026). According to Foreign Policy, carried by Donya-e-Eqtesad, a UAE Foreign Ministry spokesperson described the move as a response to "escalating regional tensions that undermine regional and international peace and security." The announcement came just hours after a phone call between US President Donald Trump and UAE President Mohamed bin Zayed.

Per World Trade Organization data, bilateral trade totaled about $28 billion in 2024, when the UAE was Iran's largest source of imports. Donya-e-Eqtesad reported that economic operators have warned the decision will raise the cost and risk of Iran's foreign trade, though some currency transfers between the two countries continue through indirect channels. Anwar Gargash, diplomatic adviser to the UAE president, called accusations that Dubai has helped Iran evade sanctions "disinformation," saying the UAE remains "fully committed to the integrity of the international financial system."