Reuters claimed in a June 12 report, citing four unnamed sources, that the UAE has agreed to unlock billions of dollars for Iran, in exchange for an Iranian commitment to not attack the UAE – which had previously joined the U.S. and Israel in military bombing raids against Iran. “Word of the move, which has not been previously reported, coincides with the final stages of broader negotiations between Tehran and Washington on ending the war, talks that diplomats say could involve the release of tens of billions of dollars in Iranian oil revenues frozen in foreign banks under U.S. sanctions,” Reuters said. “Two regional sources told Reuters the UAE had agreed to release a total of $10 billion, more than $3 billion of which had already been delivered. Two other sources with knowledge of the arrangement put the total funds involved at $20 billion, adding that the move had been agreed in return for a halt to Iranian attacks on the UAE.”
Reuters could not establish whether the funds earmarked for the transfers belong to the UAE or originate in long-blocked Iranian accounts in the UAE banking system, or elsewhere.
Officially, the UAE Ministry of Foreign Affairs has “categorically denied” the Reuters report. The MFA “affirmed that these allegations are entirely false and unfounded, stressing that no frozen Iranian funds have been released, transferred, or facilitated through the UAE,” it said in a statement.
