UPDATE 1-UAE explores freezing Iranian assets to punish Tehran for attacks, WSJ reports

UAE policymakers are also considering direct ⁠maritime action, such as seizing Iranian ships, the report said, citing two of the officials familiar ⁠with ​the discussions. The United States and Israel launched coordinated strikes on Iran on Saturday, prompting Tehran to fire missiles toward Israel and several Gulf locations ⁠hosting U.S. military facilities in retaliation.

The United Arab ​Emirates is weighing freezing billions of ‌dollars ​of Iranian assets held in the Gulf state, a move that could curb Tehran's access to ‌foreign currency and global trade amid the U.S.-Israeli military conflict, the Wall Street Journal reported on Thursday.

Reuters could not immediately confirm the report. The Emirati foreign ministry did ‌not immediately respond to a Reuters' request for comment outside business hours. UAE ‌authorities are weighing measures ranging from freezing the assets of UAE-based shadow companies used to mask trade to a sweeping financial crackdown on local currency exchanges which are used to ⁠move ​money outside of ⁠formal banking channels, the report said, citing officials familiar with discussions.

If the UAE decides to ⁠move on Iran's shadow-financing empire, a key target would be accounts affiliated with the Islamic ​Revolutionary Guard Corps, the report added. UAE policymakers are also considering direct ⁠maritime action, such as seizing Iranian ships, the report said, citing two of the officials familiar ⁠with ​the discussions.

The United States and Israel launched coordinated strikes on Iran on Saturday, prompting Tehran to fire missiles toward Israel and several Gulf locations ⁠hosting U.S. military facilities in retaliation. UAE officials have privately warned Iran of the ⁠possible action it ⁠could take on Tehran, the report said, adding that it wasn't clear when or if the government would act.

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