UAE to unlock billions of dollars for Iran – Reuters
The United Arab Emirates has agreed to unlock billions of dollars for Iran, Reuters reported, citing four sources, marking a tactical shift after weeks of Iranian attacks on the Gulf state during the U.S.-Israeli war with Iran.
The move comes as Tehran and Washington enter the final stages of talks to end the war. Diplomats say a deal could include releasing tens of billions of dollars in Iranian oil revenues frozen abroad under U.S. sanctions.
Two regional sources told Reuters the UAE agreed to release $10 billion, with more than $3 billion already delivered. Two other sources said the total could reach $20 billion and was tied to Iran halting attacks on the UAE. One said an initial $3 billion tranche had already been made available.
Reuters could not determine whether the funds come from the UAE or from frozen Iranian assets held in the UAE or elsewhere. A UAE official said the country’s policy is focused on de-escalation, peace, and regional stability.
Vice President JD Vance said Friday that Iran would not receive funds simply for signing a deal or attending talks, but could gain economic benefits if it meets its obligations.
One source said the arrangement allows Iran to claim compensation for war damages, Washington to say it paid nothing, and Abu Dhabi to secure its safety and Dubai’s business hub status. Another source said Iran would halt missile and drone attacks, rebuild ties with the UAE, and expand intelligence and economic cooperation. Iran has also approached at least two other Gulf states with similar proposals.
The last known Iranian attack on the UAE was a May 4 strike on Fujairah port. Talks accelerated after senior Revolutionary Guards officials visited Abu Dhabi last week and met Sheikh Tahnoun bin Zayed al Nahyan. UAE officials later traveled to Tehran to finalize details.
The arrangement comes amid questions over frozen Iranian assets, including deposits held in Dubai banks. On April 11, an Iranian source said the U.S. had agreed to release frozen assets in Qatar and elsewhere, though a U.S. official denied it. The source said unfreezing the funds was directly tied to ensuring safe passage through the Strait of Hormuz.
