KABUL (Pajhwok): The United Arab Emirates (UAE) has agreed to unlock billions of dollars for Iran in what sources describe as a tactical shift following weeks of Iranian attacks on the Gulf state during the recent US-Israeli conflict with the Islamic Republic, Reuters reported.
The development, which has not previously been reported, comes as Tehran and Washington enter the final stages of broader negotiations aimed at ending the conflict.
Diplomats involved in the talks say the discussions could include the release of tens of billions of dollars in Iranian oil revenues frozen in foreign banks under US sanctions.
Two regional sources told Reuters that the UAE had agreed to release a total of $10 billion, with more than $3 billion already transferred.
However, two other sources familiar with the arrangement said the total amount involved could be as high as $20 billion, adding that the move was agreed upon in exchange for a halt to Iranian attacks on the UAE.
One source with direct knowledge of the arrangement said an initial tranche of $3 billion had already been made available.
Reuters said it could not independently determine whether the funds originated from UAE resources, long-frozen Iranian accounts within the UAE banking system, or other sources.
In response, the UAE Ministry of Foreign Affairs issued a statement early Saturday categorically denying reports of any transfer, including claims regarding the release of $3 billion.
“The allegations are entirely false and unfounded,” the ministry said, stressing that no frozen Iranian funds had been released, transferred, or facilitated through the UAE.
The statement did not provide further details.
Earlier, when asked by Reuters about the reported arrangement, a UAE official said the country remained committed to easing tensions and promoting regional stability.
“The UAE’s foreign policy is guided by promoting de-escalation and reducing tensions across the region, while advancing lasting peace and stability,” the official said. “The UAE supports efforts, including those undertaken by the United States, to protect the peoples of the region from the repercussions of conflict.”
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