ABU DHABI, Aug. 19 -- The United Arab Emirates (UAE) has suspended all trade, business and financial dealings with Iran. The suspension will remain in place until further notice.

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The UAE Foreign Ministry announced the decision amid growing tensions across the region. The ministry said the escalation threatens regional and international peace and security. Therefore, the UAE has decided to halt its economic and financial dealings with Iran.

The announcement follows a reported missile incident involving Iran and the UAE. On Tuesday, the UAE Defence Ministry said Iran had launched two ballistic missiles toward the country. The development added to concerns about the wid...