UAE denies reports of releasing Iranian assets for ceasefire

Reports suggesting that the United Arab Emirates (UAE) agreed to release at least $10 billion in frozen Iranian assets in exchange for a ceasefire have been strongly denied by Abu Dhabi. The claims, citing anonymous sources, indicated a deal was struck following a period where the UAE, a frequent target of Iranian attacks, had not experienced any assaults since early May.

According to the initial reports, the UAE had agreed to unblock $10 billion in Iranian funds, with $3 billion allegedly already transferred. Another version of the story mentioned a figure of $20 billion. In return, Tehran was said to have ceased missile and drone attacks against the UAE and was rebuilding bilateral relations in intelligence sharing and economic cooperation. The reports also suggested similar agreements were made with at least two other Persian Gulf nations.

However, the UAE's Ministry of Foreign Affairs issued a statement on June 13th refuting these claims. "These allegations are entirely false and baseless," the ministry stated. "No frozen Iranian assets have been released, transferred, or facilitated in any such flow through the UAE."

The initial reports had pointed to the Fujairah oil industrial zone in the Oman Gulf being targeted by Iranian drones on May 4th as the most recent attack. The allegations of a financial deal aimed at de-escalating regional tensions were circulating following military actions by the US and Israel against Iran in late February, which had led Tehran to expand its retaliatory scope across the Persian Gulf region.

“

These allegations are entirely false and baseless. No frozen Iranian assets have been released, transferred, or facilitated in any such flow through the UAE.