India, Aug. 20 -- The United Arab Emirates has suspended all trade and financial transactions with Iran after accusing Tehran of launching ballistic missiles towards the country. The decision marks another major setback for economic ties between the two countries as the wider conflict continues to disrupt shipping and commerce across the Gulf.

The UAE Foreign Ministry said the restrictions would remain in place until further notice, while stressing that Abu Dhabi remained committed to dialogue and regional cooperation.

Why Has The UAE Suspended Trade With Iran?

The decision followed the launch of two ballistic missiles towards the UAE on Tuesday night. Both missiles ultimately fell into the Persian Gulf, according to Emirati authoritie...