After accusing Iran of firing two ballistic missiles, the UAE on the early hours
of the 19th announced it will suspend all trade, commercial and financial
transactions with Iran until further notice. Retired US Brig. Gen. and former
assistant secretary of state Mark Kimmitt told Al Jazeera the move could have
greater economic impact on Iran than the US maritime blockade, given the UAE’s
role as Iran’s largest import source and Dubai’s position as a transit and
financial hub. About one-third of Iranian imports are transshipped via Dubai,
and Dubai has long provided channels used to circumvent international sanctions.
The US has imposed a maritime blockade on Iranian ports since mid-April.
