UAE denies reports of unlocking billions for Iran amid regional tensions

Sources have indicated that the United Arab Emirates has agreed to unlock billions of dollars for Iran, a move described as a tactical shift following weeks of Iranian attacks during the ongoing U.S.-Israeli conflict. The reported arrangement aims to de-escalate tensions and coincides with broader negotiations between Tehran and Washington concerning the war's end, which could involve the release of tens of billions in frozen Iranian oil revenues.

According to two regional sources, the UAE agreed to release a total of $10 billion, with over $3 billion already delivered. Other sources familiar with the arrangement placed the total funds at $20 billion, suggesting the move was agreed upon in return for Iran halting attacks on the UAE. One source indicated that a first tranche of $3 billion had already been made available. It remains unclear whether these funds are UAE-owned or originate from blocked Iranian accounts within the UAE's banking system.

However, the UAE foreign ministry issued a strong denial early Saturday, labeling the reports as entirely false and unfounded. The ministry stressed that no frozen Iranian funds have been released, transferred, or facilitated through the UAE. An official from the UAE stated that the country's foreign policy prioritizes de-escalation and regional peace, supporting U.S. efforts to protect regional populations from conflict repercussions. The White House and Iranian authorities have not yet provided immediate comment.