The United Arab Emirates is pushing back hard against reports that it agreed to unlock up to $20 billion in frozen Iranian assets. The UAE Foreign Ministry issued a categorical denial on June 13, calling the allegations “entirely false and unfounded.”
The denial came just one day after Reuters reported that the UAE had allegedly approved the release of between $10 billion and $20 billion in frozen Iranian funds. Some sources cited in the report went further, claiming that over $3 billion had already been transferred.
What was actually reported
The Reuters report from June 12 laid out a scenario where the UAE had struck a deal with Iran tied to security guarantees. Specifically, the alleged agreement was linked to Iran’s commitment to halt attacks on UAE territory amid broader regional tensions.
The figures varied depending on the source. Some pegged the number at $10 billion. Others pushed it as high as $20 billion. The claim that $3 billion had already moved was the most specific, and potentially the most explosive, allegation in the report.
