UAE Central Bank blocks Iran's Bank Melli from processing transactions amid rising tensions
The United Arab Emirates' central bank has prohibited Bank Melli Iran from carrying out any transactions, while oil prices hover around $100 a barrel and a cargo ship was struck in the Strait of Hormuz.
Why it matters
The transaction ban heightens financial pressure on Iran and signals escalating regional tensions affecting global oil markets.
In this story
UAE Central BankBank Melli Iranoil price $100Strait of Hormuz attackIran peace talksSaudi supply recoveryIran flights ChinaIran flights ThailandUS sanctions
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