The countries were supposed to meet in the Finalissima, the title match between the reigning champions of the European Championship and the South American Championship (Copa América).
The match was due to be played in Qatar on March 27, but the ongoing conflict in the Middle East has long created uncertainty. Qatar is one of several Gulf states with US military bases that have been attacked by Iran, following US and Israeli attacks on Iran.
UEFA, which is organizing the match together with the South American Football Confederation, said in a statement that it was not possible to agree with the Argentine federation on an alternative arena in Europe and that the match is canceled.
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