India, Aug. 19 -- The United Arab Emirates has suspended all trade, commercial exchanges and financial transactions with Iran "until further notice", the country's foreign ministry said on Tuesday.

UAE foreign ministry communications director Afra Al Hameli said the decision was taken in light of "regional escalations that undermine regional and international peace and security".

"In light of regional escalations... all trade, commercial exchanges, and financial transactions with Iran have been halted until further notice," Al Hameli said. She also said the UAE would continue to protect the international financial system and follow international law and global standards.

The announcement came after the UAE said two ballistic missiles h...