UAE agrees to release $10 billion to Iran to halt attacks

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UAE agrees to release $10 billion to Iran to halt attacks: report

Editorial Team

June 13, 2026

UAE agrees to release $10 billion to Iran to halt attacks — People walk past a sign at a currency exchange in Tehran, Iran, December 20, 2025. Photo: WANA.

UAE Rejects Claims of Releasing Frozen Iranian Funds

DUBAI,—The United Arab Emirates has agreed to release billions of dollars to Iran, four sources told Reuters, in a significant policy shift that came after weeks of Iranian attacks targeted the wealthy Gulf state during the ongoing U.S.-Israeli war with the Islamic Republic.

The arrangement, which had not been previously reported, comes as broader negotiations between Tehran and Washington near their final stages.

Diplomats say those talks could include the release of tens of billions of dollars in Iranian oil revenues currently frozen in foreign banks under U.S. sanctions.

Two regional sources told Reuters the UAE had agreed to release a total of $10 billion, with more than $3 billion already delivered.

Two other sources familiar with the arrangement put the total at $20 billion, saying the transfer was agreed upon in exchange for Iran halting its attacks on the UAE.

One of those sources confirmed a first payment of $3 billion had already been made available.

Reuters could not confirm whether the funds set aside for the transfers belong to the UAE or come from long-blocked Iranian accounts held within the UAE banking system or elsewhere.

The UAE foreign ministry issued a statement early Saturday, firmly denying reports of any transfer, including what it called allegations concerning $3 billion.

The ministry said the claims were “entirely false and unfounded,” and stressed that no frozen Iranian funds had been released, transferred, or facilitated through the UAE. The statement did not provide additional specifics.

Earlier, when asked by Reuters to comment, a UAE official said the country was working to ease regional tensions and support peace.

The official said UAE foreign policy focuses on promoting de-escalation and reducing tensions across the region, while advancing lasting peace and stability.

The official added that the UAE supports efforts, including those led by the United States, to shield regional populations from the consequences of conflict.

The White House did not immediately respond to a request for comment.

In Washington, Vice President JD Vance said Friday that funds would not be released to Iran simply for signing a deal or attending a meeting.

He said any potential agreement was structured so that economic benefits would reach Tehran only if it meets its obligations.

Iranian authorities did not immediately respond to a Reuters request for comment. None of the sources cited agreed to be identified given the sensitivity of the matter.

The reported arrangement marks a sharp change from the deep hostility that defined UAE-Iran relations through much of the war.

Iranian strikes had emptied Dubai hotels, caused some foreign residents to leave, and put at risk the country’s reputation as a safe business destination.

One source familiar with the arrangement said the deal offered a way to advance a resolution between the U.S. and Iran without either side crossing its core positions.

Iran could claim it received compensation for war damages, Washington could say it paid nothing, and Abu Dhabi would secure both its own safety and Dubai’s status as a regional hub, all while presenting the move as a step toward rebuilding regional trust.

A second source said that in exchange for the disbursement, Iran agreed to stop missile and drone strikes on the UAE and work toward rebuilding bilateral ties, including intelligence sharing and economic cooperation.

That source also said Iran had approached at least two other Gulf Arab states about similar arrangements.

The last known direct Iranian attack on the UAE took place more than a month ago, a May 4 strike on the Fujairah port along the Gulf of Oman.

One source said talks had begun several weeks earlier but moved faster after officials from Iran’s powerful Revolutionary Guards traveled to Abu Dhabi to meet Sheikh Tahnoun bin Zayed al Nahyan, the UAE’s national security adviser and deputy ruler of Abu Dhabi, staying at his guest house.

UAE Iran officials Nov 24, 2021 — UAE and Iranian officials, Dubai, United Arab Emirate, November 24, 2021. Photo: WANA/via Reuters.

UAE officials then traveled to Tehran to finalize the details.

The backdrop to the arrangement involves Dubai’s role as one of Iran’s most important economic gateways.

Dubai banks have long held large deposits linked to Iran, much of them now frozen under U.S. sanctions that restrict any foreign bank dealing with blacklisted Iranian entities from accessing the American financial system.

On April 11, a senior Iranian source said the U.S. had agreed to release Iranian frozen assets held in Qatar and other foreign banks. A U.S. official quickly denied that claim.

The source, who asked not to be named due to the sensitivity of the matter, told Reuters the asset release was directly tied to ensuring safe passage through the Strait of Hormuz, a central issue in the broader talks.

(With files from Reuters)