politics
UAE agrees to release up to $20 billion to Iran
The United Arab Emirates has agreed to unlock between $10 billion and $20 billion for Iran, according to four sources who spoke to Reuters. The move comes as the U.S. and Iran negotiate an end to their ongoing war.
Jun 12, 4:58 PM·1m read1 source
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The United Arab Emirates has agreed to release between $10 billion and $20 billion to Iran, four sources told Reuters. Two sources said $10 billion would be transferred, with more than $3 billion already delivered. Two other sources put the total at $20 billion and linked the release to a halt in Iranian attacks on the UAE.
The arrangement was reached after Iranian officials visited Abu Dhabi last week and met with a UAE national security adviser. UAE officials later traveled to Tehran to finalize details. The last reported Iranian attack on UAE territory occurred on May 4 at Fujairah port.
Background on frozen assets Dubai banks hold substantial Iranian-linked deposits that have been immobilized under U.S. sanctions. The funds in question may originate from those accounts or from other blocked Iranian assets. Reuters could not confirm the exact source of the money being transferred.
A UAE official said the country supports efforts to reduce regional tensions and promote stability. The official added that the UAE backs U.S. initiatives aimed at protecting people in the region from conflict. The White House did not respond to a request for comment.
Vice President JD Vance stated earlier Friday that frozen funds would not be released immediately upon signing any deal. He said economic benefits would reach Iran only if it meets its obligations under an agreement. Iranian authorities have not commented on the reported arrangement.
