The Iranian newspaper Ham-Mihan reported Wednesday that the UAE has stopped operations of intermediary companies that served as a key channel for Iranian financial transfers and trade, following a US demand. According to the report, the move disrupts one of Iran's most critical trade routes; the UAE's share of Iranian imports rose from 15% to 30% and its share of Iranian exports from 6% to 14%. Ham-Mihan also noted that Iran launched ballistic missiles toward the UAE shortly after the cessation, apparently to signal the consequences to the Emirates.
The Iranian daily Ham-Mihan reported Wednesday evening that the United Arab Emirates has ceased operations of intermediary companies that served as a key channel for Iranian financial transfers and trade, acting on a US demand. According to the report, the move disrupts one of Iran's most critical trade routes, with the UAE's share of Iranian imports rising from 15% to 30% and its share of exports from 6% to 14%. Ham-Mihan also stated that Iran launched ballistic missiles toward the UAE shortly after the cessation, in what it described as a signal of consequences to the Emirates.
The report comes less than 24 hours after The Zioneer reported on Tuesday at 23:18 Jerusalem that the UAE announced a full severance of all trade and financial transactions with Iran, freezing an estimated $21 billion in bilateral commerce. That earlier report cited Abu Dhabi's accusation that Iran fired ballistic missiles at maritime traffic, a charge Tehran denied. The Ham-Mihan report adds specifics on the intermediary firms — used to channel oil revenue outside formal banking channels — and corroborates the missile fire.
Background material reviewed by The Zioneer indicates the UAE previously warned Tehran that continued regional attacks by Iranian proxies would invite economic retaliation, including asset freezes. The current moves appear to execute that threat. Ham-Mihan also noted that Iran itself had recently attempted to act via Interpol against some of these companies, which allegedly failed to return between $8 billion and $11 billion in oil revenue deposits.
The Ham-Mihan report is sourced from Iranian state-affiliated media; the claim of an Iranian ballistic missile launch toward the UAE has not been independently verified, and the exact scope of the intermediary firm halt remains unconfirmed.
4 developments
- DevelopingReport: UAE severs commercial ties with Iran after IRGC strikes on tankers
- StrongUS Treasury proposes cutting Egyptian bank's UAE branch from US financial system over Iran links
- DevelopingWSJ: Iran told Saudi Arabia, Oman it plans 'significant' strike on UAE
- DevelopingWSJ: Trump Considers Declaring War with Iran Over, Shifts to Economic Pressure
Source and signal
- Open-source intake