Reuters: UAE allegedly unlocked billions for Iran to halt attacks

The United Arab Emirates agreed to unblock between $10 billion and $20 billion for Iran in exchange for Tehran halting missile and drone attacks on Emirati territory, Reuters reported, citing four sources. The first $3 billion has already been transferred, according to the sources.

The UAE Foreign Ministry officially denied the report, calling the claims false, while Reuters’ sources maintained that the information was accurate.

According to Reuters, the funds could consist either of the UAE’s own money or Iranian assets that have long been frozen in the Emirati banking system. In return for the payments, Iran would halt missile and drone attacks against the UAE, while the two countries would seek to restore bilateral cooperation, including intelligence sharing and economic ties.

“One of the sources said that in exchange for the payment, Iran would stop missile and drone attacks on the UAE, and bilateral cooperation, including intelligence sharing and economic ties, would be restored,” Reuters reported.

An Emirati official confirmed that the UAE was seeking de-escalation, saying the country’s foreign policy was focused on reducing tensions and promoting peace. Following publication of the Reuters report, however, the UAE Foreign Ministry formally denied that funds had been transferred, describing the reports as “completely false and unfounded.”

Reuters’ sources continued to stand by the information.

According to the sources, Tehran has offered similar arrangements to at least two other Gulf states.

Additional sources said the UAE had unfrozen and transferred several billion dollars in frozen assets to Iran, along with two tonnes of gold worth $283 million, as part of efforts to protect itself against potential attacks by Tehran.

The gold shipment was reportedly transported to Iran aboard a Boeing 737-7KK with the registration number A6-RJA, operated by UAE-based airline RoyalJet.

By Tamilla Hasanova