UAE suspends all trade, financial transactions with Iran after missile attack

The United Arab Emirates (UAE) has suspended all trade activities, exchanges and financial transactions with Iran until further notice, the foreign ministry said in a statement on Wednesday, citing regional escalation that it said undermined regional and international peace and security. The announcement came after the UAE's defence ministry said on Tuesday that it had detected two ballistic missiles launched from Iran, the first such incident reported since a May 4 strike on the Fujairah port.