Emirates Reportedly Promised Iran Billions to Stop Attacks

The United Arab Emirates (UAE) has agreed to release billions of dollars to Iran as part of efforts to ease tensions following weeks of Iranian attacks during the US-Israeli war, according to multiple sources. The reports come as Tehran and Washington hold talks to end the conflict and discuss the fate of frozen Iranian assets abroad.

According to sources cited by Reuters, the total amount is between $10bn and $20bn. Two sources noted that a first tranche of $3bn has already been made available, though it is unclear whether this represents UAE funds or long-blocked Iranian assets deposited in foreign banks.

Abu Dhabi has denied the reports. The UAE Ministry of Foreign Affairs stated that no frozen Iranian funds have been released or transferred through the Emirates.

The sources said the deal is part of a broader effort to halt Iranian attacks on the UAE. The last known direct Iranian attack on the Emirates took place on 4 May in the port of Fujairah.

The deal could also include renewed economic cooperation, intelligence sharing and security guarantees. The issue of safe passage through the Strait of Hormuz, one of the world's most important oil trade routes, is also said to play a role in the negotiations.

(reuters, max)