DUBAI — The United Arab Emirates (UAE) on Wednesday denied reports that it provided financial facilities to Iran, hours after announcing the suspension of all trade and financial dealings with Tehran.UAE presidential diplomatic adviser Anwar Gargash rejected the reports as false, describing claims that Abu Dhabi was providing financial facilities to Iran as part of “desperate media campaigns.”The UAE is Iran’s second-largest trading partner globally after China and its largest trading partner in the Gulf and Arab world.The value of non-oil trade between the two countries has recently ranged between $27 billion and $29.1 billion annually, with both sides having previously announced plans to raise the figure to $30 billion.“Some directed platforms are circulating false information about the UAE,” Gargash said in a post on US social media company X.He stressed that the UAE “continues to focus its efforts on dealing with developments in the region and preparing for what comes after this phase.”“As for the rumors being circulated, such as those concerning the cancellation of workers’ residency permits or providing financial facilities to Iran and others, they are false information and part of desperate media campaigns,” he added.“The UAE’s approach is that the best response to such claims is through action and achievements on the ground,” Gargash said.On Tuesday, the UAE announced that it was suspending all economic dealings with Iran.“In light of regional escalations … all trade, commercial exchanges, and financial transactions with Iran have been halted until further notice,” said foreign ministry communications director Afra Al Hameli.Earlier on Tuesday, Abu Dhabi accused Iran of firing two ballistic missiles towards the country.It later clarified the salvo was directed at shipping, with both missiles falling in the sea, one of them within the UAE’s territorial waters.Iranian foreign ministry spokesman Esmaeil Baghaei “categorically rejected the UAE’s claim that Iran had launched a missile towards that country”.The neighbors across the Gulf share deep cultural and historical ties, and the UAE – home to a sizeable Iranian community – had been a major trading partner for US-sanctioned Iran, at least before the war.Tuesday’s announcement was the latest measure against Iran by the UAE after it recalled its ambassador early in the conflict and shut Iran-linked schools and a hospital.Iran launched intensive missile and drone attacks targeting several Gulf countries following heavy US airstrikes on targets inside Iran.Between July 8 and 24, the US carried out attacks on Iran, while Tehran responded by targeting US military facilities and equipment in Arab countries.Tankers belonging to the UAE’s state-owned oil company ADNOC have been repeatedly targeted in the past few weeks.
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