UAE to unlock billions of dollars for Iran, sources say

The United Arab Emirates has agreed to unlock billions of dollars for Iran, a significant tactical shift occurring amidst weeks of Iranian attacks on the Gulf state during the US-Israeli war with the Islamic Republic. This move, not previously reported, coincides with the final stages of broader negotiations between Tehran and Washington aimed at ending the conflict.

Sources suggest the UAE could release a total of $10 billion, with over $3 billion already delivered, according to two regional sources. Other sources familiar with the arrangement place the total funds at $20 billion, stating the agreement was made in return for Iran halting attacks on the UAE. One of these sources also confirmed a first tranche of $3 billion had been made available.

It remains unclear whether the funds are UAE-owned or originate from long-blocked Iranian accounts within the UAE's banking system. A UAE official stated the country's foreign policy aims to promote de-escalation and regional peace, supporting efforts to protect people from conflict repercussions. The White House has not yet commented. The arrangement signals a notable pivot from recent animosity, which had emptied Dubai's hotels and shaken the city's reputation as a business hub.

“

The UAE's foreign policy is guided by promoting de-escalation and reducing tensions across the region, while advancing lasting peace and stability. The UAE supports efforts, including those undertaken by the United States, to protect the peoples of the region from the repercussions of conflict.