UAE

Arab News | ‘I want to create more history’: India’s Jujhar Singh returns to Abu Dhabi for Power Slap 25

ABU DHABI: Of all the memories Jujhar Singh carried home from Abu Dhabi last year, one has stayed with him more vividly than the others: the final slap he took on a night when he made history for India.

On Oct. 24, 2025, Singh became the first Indian striker to win at a Power Slap event in the UAE’s capital. Almost a year later, he is preparing to compete there again, this time against Louis Robinson and with the prospect of strong Indian support at Space42 Arena.

“I remember the last slap I took that night the most,” Singh said. “Returning to Abu Dhabi means a lot to me because the people of India want to see me compete again.”

Singh (1-0) competes at Power Slap 25 Presented by Monster Energy on Friday, Oct. 23, where he will face British heavyweight Louis Robinson (2-0, 2 KOs), currently ranked No. 8 in the division.

Singh added: “India versus England is going to be a huge match.”

Robinson has won both of his Power Slap appearances by knockout, setting up another significant test for Singh in Abu Dhabi.

Singh said: “This time, I’m facing an undefeated competitor, but I want to create more history in Power Slap and give him his first taste of defeat.”

For Singh, another victory is only part of what makes his return to Abu Dhabi significant.

“The Power Slap stage is a huge stage for me personally, and representing my country is like a dream come true,” he said.

That connection to India could be particularly evident inside Space42 Arena. Abu Dhabi is home to a large Indian community, and Singh expects plenty of support when he steps on the stage against Robinson.

Singh added: “This time the atmosphere in Abu Dhabi will be special as my Indian community is coming there in large numbers.”

Indian fans traveling from further afield also have an added opportunity to make the journey in October. A tourism initiative running until Oct. 31 covers UAE entry visa costs for eligible Indian passport holders traveling from India when they book an Abu Dhabi holiday of at least three consecutive nights through participating travel partners or online travel agencies.

With Power Slap 25 taking place on Oct. 23, the event falls within the initiative’s travel period, offering Indian fans the opportunity to combine a visit to Abu Dhabi with the chance to support Singh at Space42 Arena.

Power Slap 25 will mark the third consecutive year that the promotion has staged a live marquee event in Abu Dhabi, strengthening the UAE capital’s role in the sport’s international calendar. That continued presence could also play an important role in Power Slap’s future in India.

Singh said: “The events in Abu Dhabi are very important in increasing the popularity of Power Slap in India as it will give more Indian competitors a chance to compete.”



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Arab News | Saudi Arabia, UAE call for united Gulf stance amid regional escalation

RIYADH: Saudi Arabia and the UAE stressed the need for closer coordination and a united Gulf position as they discussed efforts to contain escalating tensions across the region on Sunday.

During a phone call, Saudi Foreign Minister Prince Faisal bin Farhan discussed rapidly evolving regional developments and efforts to prevent further escalation with Sheikh Abdullah bin Zayed Al-Nahyan, the UAE’s deputy prime minister and foreign minister.

The ministers stressed on the need to align positions and strength consultations between Riyadh and Abu Dhabi to support joint Gulf action and safeguard the security and resources of GCC states.

The call comes amid renewed attacks on Gulf states, including recent Houthi strikes targeting civilian and economic sites in southern Saudi Arabia.

Prince Faisal earlier on Sunday told the BRICS summit in New Delhi that Saudi Arabia’s national security, territorial integrity and resources were “non-negotiable,” warning that GCC states would not tolerate attacks on their territories, facilities or vital interests.

He also called for a shift away from confrontation toward de-escalation and diplomatic efforts, arguing that lasting regional security depended on respect for sovereignty, non-interference and good-neighbourly relations.

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Iran, UAE hold first talks at BRICS summit since conflict began | US-Israel war on Iran

Iran’s President Masoud Pezeshkian has met Abu Dhabi’s Crown Prince Khaled bin Mohamed Al Nahyan at the BRICS summit for their highest-level talks since the conflict began. Both backed calls for restraint, despite Iranian attacks on the UAE. Bahrain refused to meet Pezeshkian.

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Arab News | Deals worth billions to be signed as UAE leader visits Germany

BERLIN: The leader of the United Arab Emirates began a state visit to Germany on Thursday, during which deals worth billions of euros will be signed in sectors including energy and technology, Emirati diplomats said.

Berlin rolled out the red carpet for Sheikh Mohamed bin Zayed Al-Nahyan, who was received with military honors by President Frank-Walter Steinmeier and was later to meet Chancellor Friedrich Merz.

Security was tight for the visit, with Berlin cordoning off flag-lined streets and deploying large numbers of police.

“Over the course of this visit, the UAE and Germany will make a number of key announcements and multibillion-euro agreements across investment, business, technology, AI and energy,” senior UAE diplomat Lana Nusseibeh said at a briefing ahead of the visit.

The visit comes as the US war against Iran has roiled the Gulf region, with US President Donald Trump’s erratic diplomacy unsettling many midsize powers and leading them to diversify their strategic and economic partnerships.

Merz visited the Gulf region in February, shortly before the US-Israeli war started against Iran. He said then that “we need such partnerships more than ever at a time when major powers are increasingly dominating politics”.

The UAE is Germany’s largest trading partner in the Gulf, with bilateral trade topping $15 billion last year, and many big German companies have a presence there including BMW, Siemens, ThyssenKrupp and rail operator Deutsche Bahn.

The UAE meanwhile has made major investments in Germany, including in the chemical industry and offshore wind power.

During Merz’s visit in February, German energy giant RWE and Abu Dhabi’s national oil company ADNOC signed a memorandum of understanding on LNG imports over the next decade.

Gulf countries have also long bought defense equipment from Germany and have shown interest in start-ups that make drones to bolster NATO’s deterrence efforts against Russia.

Germany, the largest EU economy, supports talks towards a European Union free trade deal with the Emirates.

The group Human Rights Watch called on German leaders during the visit to “publicly call out the United Arab Emirates’ human rights record and its role in regional conflicts”.

No joint press conference was scheduled with Merz and Sheikh Mohamed.

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Netanyahu to sue Haaretz over claims UAE warned him before October 7 attack | Benjamin Netanyahu News

Israeli prime minister denies claim that UAE president warned him of Hamas plans before the 2023 attacks.

Israel’s Prime Minister Benjamin Netanyahu has said he will sue the Haaretz newspaper over a report that claimed he was warned of Hamas’s plans for an offensive days before the attacks of October 7, 2023.

In a statement on X on Wednesday, Netanyahu called the report “fabricated” and “false” and said he had instructed his lawyers to also sue Haaretz and the authors of the report, Shlomi Eldar and Ruth Yaval.

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The report, published on Tuesday, claimed that the president of the United Arab Emirates, Mohammed bin Zayed had warned Netanyahu about a possible attack by Hamas 10 days before the events of October 7, 2023.

Palestinian fighters killed at least 1,195 people in southern Israel on that day, and took some 251 others captive. The attacks prompted Israel’s genocidal war on Gaza, in which at least 73,669 Palestinians have been killed.

The Haaretz report claimed that the UAE president, who is also known as MBZ, spoke to Netanyahu by phone and warned him of a threat from then-Hamas leader Yahya Sinwar.

According to Haaretz, Sinwar – who was angered by stalled prisoner exchange talks and Israel’s continued blockade of Gaza – had relayed the warnings to the UAE through an intermediary. He said he was preparing a “huge surprise” and told contacts to tell Israel “to expect an earthquake”, according to the report.

It said MBZ and his aides read this as a sign of an impending full-scale attack and passed the intelligence to Israel’s Shin Bet agency. But the internal security agency dismissed the threat.

MBZ then raised the warning directly with Netanyahu, who also brushed it aside, the report said.

The UAE has declined to comment on the allegations.

Its Ministry of Foreign Affairs issued a statement on Tuesday saying that “the UAE government does not comment on media stories or speculation regarding conversations between government leaders”.

The Haaretz report comes at a time when Netanyahu is trying to secure his position as prime minister in the upcoming Knesset elections in October. Netanyahu has been trailing in the polls, facing a fierce challenge from former military chief Gadi Eisenkot.

Netanyahu on Wednesday called the Haaretz report “politically motivated” and part of the “left’s election campaign”.

He also denied its claims of a phone call with MBZ.

“The National Security Council and the Military Secretary meticulously reviewed the Prime Minister’s call log for those days—and found no trace of it whatsoever,” he said.

In a separate statement, Netanyahu also claimed that the person responsible for Haaretz’s “false report” was the Palestinian political figure, Muhammad Dahlan.

Dahlan was expelled from the Fatah party in 2011 after a power struggle with the current president of the Palestinian Authority, Mahmoud Abbas, and lives in the UAE.

Dahlan’s representatives have rejected the claim, according to Israeli media.

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Treasury Secretary Scott Bessent moves to sanction bank in UAE for Iran ties

Aug. 28 (UPI) — Treasury Secretary Scott Bessent announced Friday that the United States is working to cut off bank branches in the United Arab Emirates from the U.S. financial system, part of his campaign to target financial systems that enable Iran.

The Department of the Treasury said it is proposing a rule that will ban U.S. banks from facilitating transactions involving the UAE-based branches of Banque Misr, one of Egypt’s largest banks.

“Iran’s enablers cannot continue to enjoy access to the U.S. dollar and the global financial system,” Bessent said in a statement. “Banque Misr UAE decided to find out the hard way, and today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime.”

Bessent on Monday announced a new pressure campaign called Operation Economic Outcast to force countries to sever ties with Iran.

The department accused Manque Misr’s operations in the UAE of being “a significant conduit for Iranian shadow banking.” It said the bank allows Iranian entities access to U.S. dollars, circumventing U.S. sanctions.

Treasury said it had found 103 potential front companies that moved $1.8 billion through Banque Misr UAE accounts from January 2024 to June 2026.

Bessent is invoking powers under the Patriot Act that allow the treasury secretary to take action against foreign banks that are a “primary money-laundering concern” to the U.S.

It also said the Treasury will sanction the general manager of the Dubai branch of Bank Melli and a Hong Kong-based company it alleges is laundering money for Iran.

Earlier this month the UAE said it was suspending all trade with Iran.

President Donald Trump signs an executive order to rename Lake Ontario as Lake America in the Oval Office of the White House on Thursday. Photo by Al Drago/UPI | License Photo

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Iran scrambles to sustain trade; U.S. threatens to sanction countries

Iran’s economy, already strained by high inflation, years of Western sanctions and a war that has sharply reduced oil revenue, is poised for more instability as the Trump administration tries to coerce other countries into ending all financial dealings with the Islamic Republic.

A decision by the United Arab Emirates to suspend trade relations with Iran last week kick-started the White House’s latest attempt to isolate Tehran into submission. Iran entered the war with its foreign commerce concentrated among a relatively small group of countries, leaving it with fewer places to turn now.

The success of the U.S. strategy largely will hinge on China, the main buyer of Iranian oil and its top trading partner. Russia, a fellow target of sweeping U.S.-led sanctions, has a military conflict and economic crisis of its own and probably can’t offer longtime ally Iran much hard financial support.

Regional partners like Turkey, Pakistan and Iraq maintain important relationships with both Iran and the U.S., giving them reason to avoid exposure to the secondary sanctions that Treasury Secretary Scott Bessent said awaited nations that did not cut economic ties with Iran.

“Those who stand with the United States will reap the rewards of our partnership,” Bessent said Monday while outlining the plan he called “Operation Economic Outcast.” “Those who tether themselves to the Iranian regime should expect to share in the isolation.”

The Emirates will be hard for Iran to replace as a conduit for foreign goods and payments

Despite Western sanctions, Iran in 2024 exchanged $125 billion worth of goods globally, according to Trade Data Monitor, a private firm. Iran is not a member of the World Trade Organization.

The bulk of its declared international trade, though, was with a handful of partners. The UAE, China and Turkey supplied nearly three-quarters of Iran’s merchandise imports. Four countries — China, Iraq, the UAE and Turkey — accounted for more than two-thirds of its non-oil exports.

On the supply side, the UAE held outsized importance. It was Iran’s biggest source of imported items and a gateway to financial channels that helped Iranian businesses make and receive international payments. Both roles kept Iran connected to the global economy.

As a reexport hub, the UAE processed shipments from foreign suppliers reluctant to deal directly with Iranian customers.

“From Iran’s perspective, the UAE can be replaced, but the Iranians are openly saying it’s not going to happen overnight,” said Alex Vatanka, a senior fellow at the Middle East Institute in Washington.

China has deep economic ties to Iran but depends less on the relationship

Beijing has economic interests in the Persian Gulf beyond Iran, and so far has avoided getting drawn into the conflict the U.S. and Israel initiated. China buys the overwhelming majority of Iran’s crude through opaque trading networks that bypass sanctions.

Its manufacturing clout and stranglehold on critical mineral supplies nonetheless give Beijing more room than Iran’s other partners to resist U.S. pressure, said David Lubin, a senior research fellow at Chatham House. Aggressive action against major Chinese banks and businesses could revive trade tensions as Chinese leader Xi Jinping prepares to meet with President Trump in Washington next month.

“I don’t see China playing ball by any means,” Lubin said.

China is both Iran’s largest reported export market and a supplier of essential parts and products, according to WTO and United Nations data.

During the Obama administration, Beijing did agree to reduce energy imports from Iran, said Atlantic Council fellow Daniel Fried, a former U.S. ambassador to Poland.

“We will want the Chinese to go a lot farther than they have gone in the past,” Fried said. “But it’s a lot harder now.”

China has experience helping an ally survive sanctions: It has long been North Korea’s economic lifeline and main diplomatic backer. Experts say China has avoided fully enforcing U.N. sanctions on North Korea and sent clandestine aid to help its impoverished neighbor stay afloat.

Expanding bilateral trade would create problems for Iran’s neighbors

Iranian Parliament Speaker Mohammad Bagher Qalibaf, who has been his country’s lead negotiator over the last six months, was in Iraq the day of the UAE’s trade suspension. A purpose of his visit, he said, was “speeding up efforts to expand joint cooperation among all countries in the region, without foreign interference.”

The U.S. dollar’s preeminence in international trade and finance, however, means none of Iran’s trading partners would antagonize Washington lightly, Vatanka said. “We’re still at a point where if the U.S. wants to hurt you, it will matter,” he said.

Underscoring potential consequences, Turkey settled a years-long U.S. dispute in July over the role of a state-owned bank in helping Iran evade sanctions through an oil-for-gold scheme. Trump also moved to lift sanctions on its fellow NATO member stemming from Turkey’s purchase of a sophisticated Russian missile system.

“I really don’t think Turkey would like to become the next country helping Iran to evade sanctions right now,” said Riccardo Gasco, an analyst at the IstanPol think tank in Istanbul.

Iran is a vital import source for Iraq and retains influence there through allied political factions and armed groups. Baghdad has sought closer economic and security ties with Washington. Since it invaded Iraq in 2003, the U.S. has significant control over the nation’s foreign currency reserves because they are housed in the Federal Reserve Bank in New York.

Oman, a frequent intermediary between Washington and Tehran, has found its balancing act suddenly precarious. Trump threatened Oman last week over its ongoing negotiations with Iran on the future management of the Strait of Hormuz.

One easy route for goods slipping past sanctions on Iran would be ports like Gwadar near the Persian Gulf in Pakistan, said Peter Harrell, a visiting scholar at Georgetown University.

“Ship an intermodal container of drone parts to one of the ports in western Pakistan and unload it onto a truck and have it driven across the border into Iran,” he said.

While Pakistan, a key ally and economic partner of China in the region, wants to increase trade with Iran, it faces competing pressures. It is serving as a key mediator between Tehran and Washington and has deep security ties with Saudi Arabia, Iran’s longtime regional rival.

Caspian Sea trade route alternatives unlikely to grow quickly

With the Strait of Hormuz mostly blocked and Russia’s war with Ukraine endangering ships on the Black Sea, Iran has sought to develop a “road of life” on the Caspian Sea, said Nikita Smagin, an independent analyst and a former Russian state news agency correspondent in Tehran.

Russia reportedly sent drones to Iran this year, repaying Tehran’s favor after Moscow’s full-scale invasion of Ukraine. It also rerouted exports to Iran via Caspian Sea ports like Astrakhan. Agricultural products make up 80% of Russia and Iran’s reported trade.

“Both economies are exporting natural resources and have little to offer each other,” Smagin said.

The other countries that border the Caspian — Azerbaijan, Turkmenistan and Kazakhstan — probably won’t rush to join in, said Umud Shokri, a fellow at George Mason University.

Yet Russia and Iran are already in an “axis of the sanctioned,” said Mark Galeotti, executive director of the Mayak Intelligence firm. For decades the pair have collaborated to thwart trade restrictions, and increasing bilateral trade in both “strategic goods” and contraband like military technology, microchips and Gucci handbags could be a next step.

“Pomegranates and tomatoes only go so far,” he said.

Chehayeb and McNeil write for the Associated Press. McNeil reported from Brussels. AP writers Amir Vahdat in Tehran and Dasha Litvinova in Tallinn, Estonia, contributed to this report.

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To further isolate Iran’s economy, U.S. rolls out ‘D-Day’ sanctions

The United States unveiled plans Monday for new sanctions against Iran that Trump administration officials said are designed to sever Tehran from the global financial system as the nearly six-month conflict between the two countries drags on.

Treasury Secretary Scott Bessent, who previewed the announcement last week as “economic D-Day,” described the measures as the opening of an all-out financial assault on the Iranian government and its trade partners — a group that includes China, India, Turkey and the United Arab Emirates.

“To those who enable Tehran, do not discount the cost of testing Washington’s resolve,” Bessent said at a news conference. “No nation should expect to enjoy the rewards of our system while helping those who seek to destroy it.”

Bessent said it was time for world leaders to “make a decision” between “America and Iran,” adding that President Trump has already been calling foreign leaders to make specific requests ahead of the new sanctions.

But when asked whom the president had been talking to, Bessent said he would not “name names.” He also said the secondary measure would not take effect immediately, arguing that the administration is trying to give “everyone the opportunity to remedy bad behavior.”

“Why would I want to blow up the global financial system?” Bessent said when a reporter pressed him on why the sanctions weren’t immediate. “We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious.”

The pressure campaign will build on a naval blockade and other sanctions the Trump administration has already imposed in its effort to force Tehran into a deal that ends the war on U.S. terms.

Trump’s latest economic push against Iran revives a familiar strategy from presidents of both parties, using financial leverage to pressure Tehran toward more serious negotiations over its nuclear program. Sanctions helped bring Iran to the table before a 2015 nuclear deal brokered by President Obama, but the agreement was widely criticized as weak by Republicans. After Trump withdrew from the agreement in his first term, a new “maximum pressure” campaign failed to secure a new deal.

Trump’s decision to return to a strategy of economic coercion has signaled to Iran that the fighting phase of the war is probably over, for now, with the U.S. administration choosing a path “neither of war nor of peace,” Masoud Pezeshkian, Iran’s president, said this week.

Iranian officials, who had been anticipating the move, pushed back on Washington’s strategy even before Bessent began speaking Monday.

Foreign Minister Abbas Araghchi told Iranian state media over the weekend that the sanctions amounted to a repackaged version of decades-old American pressure tactics that Tehran has already learned to withstand. Esmail Baghaei, Iran’s foreign ministry spokesman, warned of “grave consequences” for any countries cooperating with what he said was “illegal behavior” by the United States. And Mohsen Rezaei, the secretary of Iran’s Supreme Security Council, suggested that the economic pressure could shut down oil exports through the Strait of Hormuz, a threat that would ripple through global energy markets.

That defiance underscores the central gamble of Washington’s strategy. Rather than aiming sanctions at Iran alone, Bessent’s plan to potentially squeeze major economies like China and India over their ties to Tehran could pose a diplomatic risk to the U.S.

The fallout could also reach beyond foreign diplomacy as a hit to global markets also risks compounding Trump’s troubles at home ahead of the midterm elections, as Americans grow unhappy with the economy and their support for the conflict in the Middle East plummets. The Iran sanctions also land as the administration wages a separate trade fight with Canada, adding uncertainty to global and domestic markets.

Whether Washington will be able to apply pressure on Iran’s trade partners remains an open question.

China alone shares nearly $10 billion in bilateral trade with Iran, and paid roughly $31.2 billion for unreported Iranian crude oil imports in 2025, according to the U.S.-China Economic and Security Review Commission. That makes China the largest buyer of Iranian crude oil by a wide margin, accounting for more than 90% of Iran’s oil exports, according to the commission.

It is unclear whether Trump has spoken to China’s leader, Xi Jinping, about the sanctions. But the two leaders are set to meet in Washington next month, adding to the diplomatic dynamics of the moment.

Other trading partners have already made some moves.

The UAE said last week that it was suspending trade with Iran, a decision that followed accusations that Tehran had fired two ballistic missiles at the Emirates.

Afra Al Hameli, a spokesperson for the Emirati Ministry of Foreign Affairs, said in a post on Aug. 18 on X that all trade, commercial exchanges and financial transactions with Iran have been halted until further notice. She added that the Emirates was “firmly committed to safeguarding the integrity of the international financial system.”

Bessent said Monday that he expects other countries will “take similar actions as we continue our engagement.”

In an opinion article written for the Financial Times last week, Bessent has cast the new measures as the “single greatest financial offensive ever marshalled against an adversary.”

Bessent wrote that countries that “sever Iran’s remaining financial and commercial connectivity” will see their economies reinvigorated, and those who don’t will experience the end of their “lasting prosperity.”

“Any nation that serves as a financial artery of a withering regime should expect to share in its isolation,” he wrote. “To become a sanctuary for terror is to become, in the eyes of the United States, a global pariah.”

Ahead of the announcement Monday, Trump posted on Truth Social that Iran was “completely collapsing.”

Meanwhile, Iran’s central bank governor, Abdolnaser Hemmati, said the U.S. had already done all that it can against Iran and that the central bank had been shoring up its foreign currency reserves for months. Last week, he said Iran’s crude exports had “virtually stopped.”

“[The Americans] have done everything, so what else can they do?” he said in an interview with Tasnim News.

Despite his assurances that the central bank was working on preventing a devaluation of the Iranian rial, the currency has struggled to remain above a black market exchange rate of 2 million per dollar — a record low. The Central Bank rate stands at roughly 1.5 million rial to the dollar.

Though experts question the effectiveness of additional economic pressure on Tehran, Bessent’s threat to target Iran’s trading partners — especially the UAE, China and Turkey, who together comprise almost three-quarters of Iran’s foreign imports — will undoubtedly be painful for Iranians.

For example, Iran uses the UAE as a reexport hub and buffer, and receives vehicle spare parts from China, according to the Observatory for Economic Complexity. Iranian economic experts say both the agricultural and pharmaceutical sectors also rely on imports from countries such as Brazil and Turkey.

Ceballos reported from Washington and Bulos from Beirut.

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UAE says new pipeline that will bypass Strait of Hormuz is nearly 50% complete (VIDEO)

The UAE has already completed nearly 50% of a second pipeline that bypasses the Strait of Hormuz, said the CEO of Abu Dhabi National Oil Co,, or ADNOC. The new pipeline will double ADNOC’s export capacity through Fujairah, a port that sits on the Gulf of Oman just beyond Hormuz. The United Arab Emirates has built nearly 50% of a second pipeline that will bypass the Strait of Hormuz, said the CEO of Abu Dhabi National Oil Co., or ADNOC, on Wednesday.

“Right now, too much of the world’s energy still moves through too few chokepoints,” Sultan Ahmed Al Jaber said in an interview at the Atlantic Council. The new pipeline will double ADNOC’s export capacity through Fujairah, a port that sits on the Gulf of Oman just beyond Hormuz. The UAE has accelerated the construction of the project due to the Iran war. The pipeline is expected to become operational in 2027. Iran has blockaded Hormuz since early March, choking off the oil and gas exports of the UAE and the other Gulf Arab producers. The UAE has redirected some oil exports through an existing pipeline to Fujairah, which has a maximum capacity of 1.8 million barrels per day.

The Hormuz blockade has triggered the most severe energy supply disruption in history, al Jaber said. More than 1 billion barrels of oil have been lost due to the strait’s closure, the CEO said. Nearly 100 million additional barrels are lost every week that Hormuz remains closed, he said. It will take at least four months to ramp oil flows up to 80% of normal levels even if the conflict ends immediately, Al Jaber said. It will take until the first or second quarter of 2027 for oil flows to fully normalize, he said. “This is not just an economic problem,” Al Jaber said.

“In fact, this sets a dangerous precedent once you accept that a single country can hold the world’s most important waterway hostage.” Iran blockaded Hormuz after the U.S. and Israel launched a massive wave of airstrikes against it on Feb. 28. Those strikes killed top Iranian leaders including head of state Ayatollah Ali Khamenei. U.S. Energy Secretary Chris Wright told CNBC on Friday that the importance of Hormuz to the global energy market will decline after the Iran war, as Gulf nations build more pipelines to bypass it. “This is a card you can play once,” Wright said of Iran’s blockade. “There’ll be other routes for energy to get out of the Persian Gulf.” “We will see a decreasing importance from the Strait of Hormuz, but not a decreasing importance of those nations’ energy production and energy supply,” he said.

Stay ahead of the geopolitical week.

MD Briefing delivers expert analysis across five global fronts — the Indo-Pacific, energy, geoeconomics, European security, and the Middle East — every Monday morning. Free.

Credit: CNBC via Reuters Connect

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UAE suspends trade relations with Iran following latest attack

Iranian Zulfiqar road-mobile, ballistic missiles are displayed during a pro-government demonstration in Tehran, Iran, on Friday, July 24, 2026. Photo by Behnam Tofighi/UPI | License Photo

Aug. 19 (UPI) — The United Arab Emirates announced it was indefinitely severing trade relations with Iran on Wednesday after accusing Tehran of firing two ballistic missiles at it.

The move was announced by the UAE’s Foreign Affairs Ministry communications director, Afra Al Hameli, who said “in light of regional escalations that undermine regional and international peace and security, all trade, commercial exchanges and financial transactions with Iran have been halted until further notice.”

“The UAE remains firmly committed to safeguarding the integrity of the international financial system, in line with international law and the highest global standards,” she said in a statement, while stressing the UAE’s “steadfast commitment to dialogue cooperation and regional integration as essential means of advancing peace, stability and prosperity in the region.”

The UAE-Iran trade relationship was worth billions a year, with the Observatory of Economic Complexity platform stating the UAE exports nearly $6 billion in goods, mostly electronics, to Iran each year, while Iran exports nearly $500 million, mostly in grapes, nuts and crustaceans.

The announcement came hours after the UAE’s Ministry of Defense said its air defense systems had detected two ballistic missiles fired from Tehran toward maritime traffic, with both falling into the sea, one within the UAE’s territorial waters.

“The Ministry of Defense confirms that it is on high alert and readiness to deal with any threats, and to firmly confront everything that targets undermining the state’s security or the security of navigation in the region, thereby ensuring the preservation of the state’s sovereignty, security and stability, and protecting its interests and national capabilities,” it said in a statement.

Iranian Foreign Ministry spokesman Esmaeil Baghaei rejected the accusations that Iran had launched missiles toward the UAE, saying Abu Dhabi was violating “the principle of good-neighborly relations” in doing so, Iran’s Mehr News Agency reported.

According to the UAE’s Ministry of Defense, its air defenses have engaged more than 550 ballistic missiles, 29 cruise missiles and more than 2,265 drones fired at it by Iran since the war began on Feb. 28. However, Tuesday’s launches were the first since May.

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UAE imposes indefinite trade embargo on Iran over alleged missile attacks | US-Israel war on Iran News

Iran denies launching missiles at the UAE, suggesting the incident was a ‘false flag operation’.

The United Arab Emirates has imposed an indefinite trade embargo on Iran after accusing Iranian forces of firing two ballistic missiles at the country, an allegation Tehran denies.

In a statement early on Wednesday, the UAE’s Ministry of Foreign Affairs said the decision was made in “light of escalations that undermine peace and security in the region”.

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“All trade, commercial exchanges and financial transactions with Iran have been halted until further notice,” it added.

The statement came after the UAE’s Ministry of Defence said its air defences detected two ballistic missiles launched from Iran, with one falling outside the country’s territorial waters and the other landing within them.

In a follow-up statement, the ministry said the missiles had been “targeting maritime traffic” and promised to “resolutely confront any attempt to undermine the security of the nation or maritime navigation in the region”.

Iran’s Ministry of Foreign Affairs rejected the accusation as “baseless”, with spokesman Esmaeil Baghaei suggesting it was a “false flag operation” amid the war launched by the United States and Israel against his country.

Baghaei warned the claim “contradicts the principle of good neighbourliness” and urged regional parties to steer clear of what he called unfounded claims against Tehran, and argued that any honest assessment of the situation must also weigh the “malicious actions” of the US and Israel.

US naval blockade

Tuesday’s attack came a day after a 60-day window for US-Iranian peace talks expired without a breakthrough in the more than five-month-old conflict.

In the war’s first six weeks, Iran targeted the UAE with retaliatory strikes more than any other Gulf country, launching more than 530 ballistic missiles, dozens of cruise missiles and over 2,200 drones at what it described as US assets. Tuesday’s strike is the first targeting the UAE since May, and comes days after Abu Dhabi accused Tehran of attacking two of its state-owned ADNOC (Abu Dhabi National Oil Company) vessels in the Strait of Hormuz.

Iran has not claimed responsibility for the ADNOC attacks.

The trade embargo comes as the US maintains a naval blockade on Iranian ports, with President Trump signalling a pivot towards economic pressure, rather than military pressure, to compel Tehran into accepting US demands.

Mark Kimmitt, a retired US general and former assistant secretary of state, told Al Jazeera the UAE’s trade embargo could hit Iran harder than anything Washington has imposed, with Dubai having quietly become Iran’s most important trading partner, edging out both China and Turkiye to supply roughly a third of everything Iran imports each year.

The UAE had suspended direct cargo shipping between the two countries in early March, just days after the war began, and resumed trade only in late June via Dubai’s Jebel Ali Port.

“I don’t think that you can overstate or understate the importance of the trade, both financial and goods trade, between Dubai and Iran,” Kimmitt said.

That reliance runs deeper than goods on ships, given Dubai’s standing as a global financial hub, which Kimmitt said has long given Iran a discreet way to move money around international sanctions, cutting off a route Tehran has long relied on for years. “In many ways, the embargo being put on by the UAE is even more significant than the embargo being put on by the United States,” he said.

The former general said he doesn’t expect other Gulf states to follow suit immediately, predicting a “wait-and-see” approach even if Iranian attacks continue.

But he said the UAE’s move is significant enough that Tehran could interpret it as bordering on an act of war, likening it to the near-total embargo the US imposed on Japan after World War II.

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