The United Arab Emirates has agreed to release billions of dollars for Iran, Reuters reports, in a tactical shift after weeks of Iranian attacks during the US-Israeli war on Tehran.
The reported move comes as wider talks between Iran and the US enter their final stages, with diplomats saying any deal could include the release of tens of billions of dollars in Iranian oil revenues frozen abroad under US sanctions.
Two regional sources told Reuters that the UAE had agreed to release $10bn, including more than $3bn already delivered.
Two other sources familiar with the arrangement put the figure at $20bn and said the funds were agreed in exchange for Iran halting attacks on the UAE. One of those sources also said an initial $3bn tranche had already been made available.
Reuters said it could not determine whether the money came from UAE funds or from long-blocked Iranian accounts held in the UAE banking system or elsewhere.
Asked about the transfer, a UAE official said Abu Dhabi was seeking to lower tensions and support peace.
“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.”
