US asks UAE to exert economic pressure on Iran

Moscow (ANTARA) - The United States has for several weeks been urging the United Arab Emirates (UAE) to increase economic pressure on Iran, The Wall Street Journal reported on Thursday, citing multiple sources.

On Tuesday (18/8), the Director of the Strategic Communications Department at the UAE Ministry of Foreign Affairs, Afra Al Hameli, said that the UAE had halted trade and financial activities with Iran.

According to sources cited by The Wall Street Journal, UAE authorities are concerned that Washington’s strategy of increasing economic pressure on Iran could adversely affect a number of economic sectors in the Gulf states that depend on tourism and trade, rather than oil.

Nevertheless, several UAE officials are reportedly keen to maintain communication channels with Tehran in order to use diplomatic instruments should the US operation to pressure Iran’s economy fail.

Earlier on the same day, US President Donald Trump said that Tehran had not taken advantage of the opportunity to reach an agreement with Washington. As a result, the US launched a large-scale economic operation against the Islamic Republic of Iran.

Then on Wednesday (19/8), Trump announced what he called “the most devastating economic operation ever conducted against any country”, while intensifying his campaign to isolate Iran and warning other countries and companies that assist Tehran that they will face severe economic consequences.

Trump said the US would seek to sever financial and trade routes that provide economic support to Iran.

“Today, I also announce that any country that allows its financial institutions, companies, airports, or government entities to provide assistance of any kind to Iran will face enormous economic consequences,” he added.