Saudi Arabia has reportedly suspended or delayed money transfers to the United Arab Emirates, according to a Financial Times report published on Tuesday. The move, in effect since May, has prevented funds from Saudi banks from reaching Emirati accounts, signaling growing friction between the two Gulf nations. The Saudi central bank denied imposing any formal restrictions when contacted by the newspaper.

The Financial Times report noted that disputes between Riyadh and Abu Dhabi have become increasingly visible since early this year. Once close allies, the two countries have diverged over issues such as relations with Israel, policies in Somalia, Sudan, and Yemen, and competition for regional economic influence. The UAE’s decision to leave OPEC earlier this year and its support for separatist groups in Yemen have further strained ties.

Analysts cited in the report said economic rivalry between the two major Arab economies is longstanding. The current financial disruption could deepen mistrust and complicate cooperation in trade, energy, and regional security.