Iran has lost billions of dollars in annual trade after it fired two missiles that the United Arab Emirates said were sent its way.

Iran denied the missiles were theirs.

But the bottom line is that the UAE has confirmed that it is severing “every trade, commercial, and financial transaction with the terror state,” effective immediately.

That’s from a report at RedState which confirmed, “Roughly $28 billion in annual commerce is now gone. The UAE was Iran’s single largest source of imports, a lifeline the mullahs just torched with their own missiles.”

The cutoff was confirmed by UAE Foreign Ministery spokeswoman Afra Al Hameli.

“All trade, commercial exchanges, and financial transactions with Iran have been halted until further notice,” she confirmed.

She cited international law and the integrity of the global financial system, the kind of language that signals Abu Dhabi is done playing nice, the report said.

One missile reportedly went down in UAE territorial waters and the other outside those boundaries.

Tehran denied it all, with regime spokesman Esmaeil Baghaei saying the UAE is violating “the principle of good-neighborly relations.”

The report said, “The numbers are devastating for Tehran. Iran imported $21 billion in goods from the UAE in 2024, a full 30.6 percent of everything the country brought in from abroad. Iran sent another $7.16 billion in exports back the other way. That pipeline is now shut.”

At CNBC was a report that there had been “weeks” of Iranian drone and missile attacks on the UAE earlier in the year.

While the vast majority were intercepted, it “sparked tensions among locals and hammered the country’s tourism and aviation industry,” the report said.

The escalation comes as work toward a U.S.-Iranian ceasefire is at a standstill.

President Donald Trump has confirmed there currently are no talks with Iran, nor plans for them.

Trump also ruled out extending the 60-day ceasefire agreement, which expired Monday, after the deal effectively fell apart.

CNBC said, “A key point of contention remains control of the Strait of Hormuz. Trump has repeatedly stated that the vital shipping waterway is open and in operation under U.S. control. However, observed ship traffic through the passage remains extremely low. An attack on a cargo vessel transiting the strait earlier this week killed one person.”

The UAE, of course, was one of the Arab nations in the Middle East that took deliberate steps toward creating peace there by joining in Trump’s Abraham Accords during his first term.