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"The United Arab Emirates (UAE) is intensifying economic pressure on Iran to discourage Iranian efforts to control or disrupt navigation through the Strait of Hormuz.
The UAE announced on August 18 that it would halt all trade and financial transactions with Iran. The announcement comes after the UAE accused Iran of launching missiles from Iranian territory toward the UAE on August 18. The UAE later said the missiles unsuccessfully targeted vessels to disrupt ”maritime navigation. ...
The UAE’s decision will further weaken Iran’s already deteriorating economy by restricting both its access to essential imports and its ability to repatriate export revenues and circumvent sanctions. Roughly one-third of Iran’s imports have come from the UAE, and the largest proportion of Iranian imports in the last five years come from the UAE have made the UAE. ..."
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