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The United Arab Emirates and Turkey have barred Iran's two largest private lenders from operating and grounded Iranian airlines amid an intensifying US economic pressure campaign. The UAE also moved to halt commercial exchanges and financial transactions with Tehran following maritime security tensions. The measures target a critical trade partner that supplied 31% of Iran's imports in 2024.
The 15th United Nations Congress on Crime Prevention and Criminal Justice opened on Saturday at ADNEC Centre Abu Dhabi, running through 1 October. During the opening session, participants adopted the Abu Dhabi Declaration, establishing a five-year framework across four pillars including justice, rule of law, and emerging criminal threats. The agenda addresses critical compliance areas such as cybercrime, online fraud, money laundering, virtual assets, and artificial intelligence.
US Treasury Secretary Scott Bessent stated that global enforcement efforts have prompted regional measures against Iranian banking and aviation sectors. The UAE General Civil Aviation Authority suspended all Iranian carrier flights, while the Central Bank of the UAE implemented regulatory actions against local branches of Bank Melli. Authorities in Turkey and Oman also enacted flight and banking restrictions amid US warnings of secondary sanctions.
US Treasury Secretary Scott Bessent announced that diplomatic pressure has prompted regional governments to introduce economic measures targeting Iran's banking and aviation sectors. In the Middle East, the UAE suspended Iranian carrier flights and placed regulatory restrictions on local branches of Iran's Bank Melli. US authorities warned that third-country entities servicing Iranian aircraft face exclusion from the US dollar system.
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