The UAE’s Ministry of Foreign Affairs rejects reports of transferring funds to Iran, calling allegations of $3 billion releases false, unfounded and inaccurate.

A claim that the UAE agreed to release $10 billion for Iran circulates online, but no verified Reuters report confirms it amid rising Gulf tensions.

The UAE vehemently denied reports that it had transferred funds to Iran as part of a deal to end attacks on the Gulf country.Reports emerged Friday that

Four sources told Reuters that the UAE agreed to release $10-$20 billion in frozen Iranian assets, though the UAE denied this.