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🇦🇫 Afghanistan /Economy & Trade

Report says UAE agreed to unlock billion in frozen Iranian funds

From Pajhwok Afghan News · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • The United Arab Emirates (UAE) has reportedly agreed to release billions of dollars in frozen Iranian funds, a move described as a tactical shift amid broader Iran-US negotiations.
  • Sources offer conflicting figures, with some stating the UAE will release $10 billion (with $3 billion already transferred) and others suggesting the total could reach $20 billion, allegedly in exchange for a halt to Iranian attacks on the UAE.
  • The UAE Ministry of Foreign Affairs has categorically denied these reports, calling the allegations "entirely false and unfounded" and stating that no frozen Iranian funds have been released or facilitated through the UAE.

Reports suggest the United Arab Emirates (UAE) has agreed to unlock billions of dollars in frozen Iranian funds, signaling a potential tactical shift in regional dynamics.

In a sense, it is a mark of absence and a mark of presence. It’s a witness. It’s an affirmation.

— Mark CarneyPrime Minister Carney spoke about his great-grandfather's baptismal record during his address.

This development reportedly follows weeks of Iranian attacks on the Gulf state during the recent US-Israeli conflict with Iran. The agreement is said to coincide with the final stages of broader negotiations between Tehran and Washington, which may include the release of tens of billions of dollars in Iranian oil revenues currently frozen under US sanctions.

Conflicting accounts have emerged regarding the specifics of the deal. Two regional sources told Reuters that the UAE has agreed to release a total of $10 billion, with over $3 billion already transferred. However, two other sources familiar with the arrangement indicated that the total amount could be as high as $20 billion. These sources claim the move was agreed upon in exchange for Iran halting attacks on the UAE.

I think Prime Minister Carney's family history is very typical of a 20th century emigration experience.

— Fiona FitzsimonsDirector of the Irish Family History Centre Fiona Fitzsimons commented on the broader context of Carney's family history.

One source with direct knowledge of the arrangement stated that an initial $3 billion tranche has already been made available. However, Reuters could not independently verify the origin of these funds, whether they came from UAE resources, previously frozen Iranian accounts within the UAE, or other sources.

The allegations are entirely false and unfounded.

— UAE Ministry of Foreign AffairsThe UAE Ministry of Foreign Affairs issued a statement denying reports of fund transfers.

In a swift response, the UAE Ministry of Foreign Affairs issued a statement early Saturday, categorically denying any transfer of funds. "The allegations are entirely false and unfounded," the ministry asserted, emphasizing that no frozen Iranian funds had been released, transferred, or facilitated through the UAE. A UAE official, when previously asked by Reuters about a reported arrangement, stated the country's commitment to de-escalation and 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.

— UAE officialA UAE official commented on the country's foreign policy approach.
DistantNews Editorial

Originally published by Pajhwok Afghan News. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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