Key facts
- The UAE reportedly released billions of dollars of Iran's frozen assets, including 1.5 tonnes of gold.
- The transfers were allegedly made in exchange for Iran sparing the UAE from future attacks.
- Assets were transported on a UAE Royal Jet Boeing 737 from Abu Dhabi to Iran on August 11 and 12.
- This is described as the third transfer, with earlier reports suggesting $10-20 billion was agreed upon.
- Oil prices fell towards $82 per barrel following the news.
- Bitcoin price rose 1% to trade near $63,900.
Reports indicate that the United Arab Emirates has released billions of dollars of Iran's frozen assets, including approximately 1.5 tonnes of gold valued between $200-283 million. These transfers, allegedly the third of their kind, were reportedly transported to Iran aboard a UAE Royal Jet Boeing 737 on August 11 and 12. Some sources suggest the reason behind these transfers is Iran's agreement to spare the UAE from future attacks.
Earlier reports in June had suggested the UAE had agreed to unlock $10-20 billion, with over $3 billion already delivered amid escalating US-Iran tensions. However, the UAE Foreign Ministry and US officials had previously denied any such releases or side deals without Iran's denuclearization. The latest reports remain unverified by official sources.
Coinciding with these developments, oil prices fell towards $82 per barrel, ending a five-day rally as investors anticipate a potential reopening of the Strait of Hormuz. Simultaneously, Bitcoin experienced a rebound, jumping 1% to trade near $63,900, with a nearly 6% increase in 24-hour trading volume. This occurred as US CPI inflation slowed for the second consecutive month to 3.4%.