BlockBeats News, June 11th, according to Bloomberg, sources revealed that senior national security officials from the UAE and Iran held the first face-to-face meeting since the US struck Tehran. Sources said this week's meeting marked a significant shift in both sides' attitudes, as they increasingly recognize the importance of building a more stable bilateral relationship. The UAE leaders hope that their grand economic ambitions (including investing billions of dollars to increase oil production and build an artificial intelligence data center) can proceed as planned.

For Iran, relations with the UAE are equally important because the UAE is Iran's largest trading partner among Gulf countries pre-war and a key conduit for Iran's sanctioned oil exports. Since the outbreak of war at the end of February, Iran has attacked the UAE more than any other country. Abu Dhabi has retaliated multiple times and has taken the hardest line against Iran among Arab neighbors. The UAE appears to be following the same path as Qatar and Saudi Arabia, trying to ease tensions through diplomatic means.

(FXStreet)