US-Iran War LIVE: UAE suspends all trade, commercial exchanges, financial transactions with Iran until further notice

US-Iran War LIVE: Oil prices rose for the fourth consecutive day as US and Iran remain locked in a stalemate regarding the possible extension of their ceasefire even after six months of conflict.

Meanwhile, Iran has slammed the US President for claiming the Strait of Hormuz as “New US Territory”. “Just as Trump correctly wrote the name of the eternal Persian Gulf, soon his delusion regarding the Strait of Hormuz will either be corrected or we will correct the delusions of this deluded man,” Iranian Deputy Foreign Minister Kazem Gharibabadi said in a post on X.

What are Tehran’s demands?

Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Tehran would not reopen the Strait of Hormuz until the US fulfils commitments under the 14-point memorandum of understanding, including lifting the blockade, releasing frozen Iranian assets and lifting oil sanctions.

Ballistic missiles launched towards UAE; Iran denies claims

Iran on Tuesday (local time) rejected the United Arab Emirates’ claim that Tehran launched two missiles towards the country, with Iranian Foreign Ministry spokesperson Esmail Baghaei calling the allegations contrary to the principle of good neighbourliness and harmful to regional efforts to build trust.

However, United Arab Emirates Ministry of Defence on Tuesday said its air defence systems detected two ballistic missiles launched from Iran towards the country, adding that both missiles fell into the sea.

The UAE later halted all trade relations with Iran until further notice in response to the alleged attack.

US expands charges against Iranians in massive hacking scheme

US authorities expanded its prosecution of a sprawling Iranian hacking network Tuesday, bringing to 17 the number of indicted suspects for an alleged campaign against universities, companies, and government agencies.