UAE Cuts Economic Ties With Iran After Missiles Target Territory

Summary

Bloomberg's Abeer Abu Omar reports from Dubai on escalating Gulf tensions after the UAE accused Iran of firing ballistic missiles at its territory and cut all economic ties with Tehran. Shipping through the Strait of Hormuz remains severely disrupted by attacks and vessel turnbacks, with traffic far below pre-war levels. Official US-Iran wider talks are not underway, though Jared Kushner says some active discussions are occurring.

• No wider US-Iran talks are officially underway, with conflicting signals from officials and Jared Kushner.
• UK Navy reported a vessel hit by an unidentified projectile in the Strait of Hormuz.
• Two Chinese-flagged vessels turned back in the Strait of Hormuz and are idle.
• Strait of Hormuz shipping movement is a fraction of pre-war levels and normalization prospects are dimming.
• UAE accused Iran of firing ballistic missiles at its territory and cut all trade and financial transactions with Iran.
• A senior UAE advisor denied reports that the UAE provided financial facilities to Iran.
• Jake Sullivan suggested regional countries may need their own pacts with Iran to avoid further attacks.