United Arab Emirates suspends trade with Iran after coming under renewed missile fire

DUBAI, United Arab Emirates (AP) – The United Arab Emirates suspended all trade with Iran on Wednesday after the UAE remarked it had come under renewed fire from the country – a move that will further isolate the Islamic Republic.

Key points

• AP correspondent Karen Chammas reports the United Arab Emirates suspends trade with Iran after coming under renewed missile fire.
• AP AUDIO: United Arab Emirates suspends trade with Iran after coming under renewed missile fire.
• Incoming ballistic missile fire triggered nationwide warnings Tuesday night for UAE residents to seek shelter, the first time in weeks such an alarm had sounded.
• Early in the conflict, the UAE regularly came under intense fire from Iran, and most trade between the countries.

Early in the conflict, the UAE regularly came under intense fire from Iran, and most trade between the countries. It had once been significant trading partners, ground to a halt. As hostilities eased, some maritime trade resumed, Iran's state-run IRNA news agency documented, in late June.

Beyond the trade in domestically produced goods, "the UAE has been very important for Iran as a re-export hub and has helped the country absorb some of the shocks caused by sanctions, " Mohammad Farzanegan, a professor of Middle Eastern economics at Germany's University of Marburg, informed The Associated Press.

"Iran therefore depends heavily on the UAE, not because the UAE itself produces one-third of Iran's imports, but because it serves as a major gateway for Iran to access third-country goods and commercial infrastructure."

In short, united Arab Emirates suspends trade with Iran after coming under renewed missile is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.