Skip to content
You can now search across every topic, entity and event.What's new
European Oil Markets
8JUN

Baqaei calls the UAE missile claim baseless

2 min read
10:46UTC

Iran's foreign ministry spokesman called the Emirati missile allegation baseless on 19 August, telling Mehr News Agency that unfounded claims damage confidence between neighbours.

EconomicDeveloping
Key takeaway

Iran denies the missile allegation but has announced no answer to the Emirati measure itself.

Esmaeil Baqaei, spokesman for Iran's foreign ministry, rejected the Emirati missile allegation as baseless on 19 August. Unfounded claims against Iran damage efforts to prevent regional insecurity and build confidence between neighbours, he told Mehr News Agency 1.

The allegation he is answering dates to 8 August, when the United Arab Emirates said an Iranian missile had targeted an ADNOC vessel in the strait . That claim, and the piracy accusation that followed it, form the stated grounds for the trade and financial halt Abu Dhabi announced on 18 August.

Baqaei disputed the grounds and left the measure alone. He announced no countermeasure, summoned nobody in Abu Dhabi, and named no Emirati official. His phrasing sat in the register of neighbourly confidence-building, which is not the register a government reaches for when it intends to answer in kind.

Deep Analysis

In plain English

Iran's foreign ministry spokesman, Esmaeil Baqaei, said on 19 August that accusations linking Iran to a missile attack on a UAE-linked vessel are false. He argued that making such claims makes the region less safe, because they damage trust between neighbouring countries. This is Iran's direct answer to the UAE's decision, a day earlier, to name Iran's Revolutionary Guard as the attacker and cut off trade. The two governments now disagree publicly about who did what, with no independent verification available to settle it.

What could happen next?
  • Meaning

    Baqaei's denial keeps Iran's public position that it bears no responsibility for the tanker attacks the UAE has cited as grounds for a full trade halt.

First Reported In

Update #172 · The strait nobody can count, insure or pay

Mehr News Agency· 19 Aug 2026
Read original
Causes and effects
This Event
Baqaei calls the UAE missile claim baseless
Tehran contests the reason Abu Dhabi gave, not the measure Abu Dhabi took.
Different Perspectives
Gulf oil producer
Gulf oil producer
Secured OPEC's confirmed 188,000 b/d September increment with the next meeting set for 6 September, but the Secretariat's own 2 August release says nothing about the fourth quarter. Output guidance beyond September remains undisclosed even as delegate sourcing keeps filling that gap.
Money manager positioned in WTI
Money manager positioned in WTI
Added 21,402 lots to a 108,307 net long in NYMEX WTI in the week to 28 July, against just 1,485 added to Brent's 15,740, a roughly fourteen-to-one split. Conviction sits in the American benchmark even as the European diesel story sets the record.
Indian refiner buying Urals
Indian refiner buying Urals
Bought Russian crude at a discount that narrowed to $1-2 a barrel in the week to 29 July from over $10, as Hormuz risk pushed it toward Urals. If that risk eases with the strike now called off, the discount it is currently enjoying could re-widen just as fast.
Russian diesel exporter
Russian diesel exporter
Novak tied any lifting of the diesel export ban, due to lapse 31 July, to an unspecified market recovery with no date, and pushed the gasoline ban to end-2026. An open-ended constraint suits an exporter benefiting from the record European crack it feeds.
War-risk underwriter
War-risk underwriter
Withdrew war-risk cover for Saudi-linked hulls on 24 July and has not reinstated it, holding Bab el-Mandeb tanker transits near 7.5 a day. A cancelled strike does not by itself trigger the committee review needed to re-accept the class.
Northwest European refiner
Northwest European refiner
Sources only 17% of diesel imports from Saudi Red Sea ports against the Mediterranean's 24%, so the ARA crack at $85.86 trails the Med print by $5.81. Lower Red Sea exposure is cushioning it against the rerouting cost, not eliminating it.