UAE denies unlocking frozen Iranian funds

The United Arab Emirates denied reports about funds being transferred from the Gulf country to Iran, including allegations involving $3 billion.

"The United Arab Emirates has categorically denied reports published by certain international media outlets alleging the transfer of funds from the UAE to the Islamic Republic of Iran, including allegations concerning $3 billion," the UAE Foreign Ministry said.

Calling the allegations "entirely false and unfounded," the ministry stressed that "no frozen Iranian funds have been released, transferred, or facilitated through the UAE."

It also urged "media outlets to exercise accuracy, rely on official sources, and refrain from publishing or circulating unverified information and unfounded allegations."

Earlier, Reuters reported that the UAE has agreed to unlock billions of dollars for Iran. Two regional sources said the UAE had agreed to release a total of $10 billion, more than $3 billion of which had already been delivered.

Two other ​sources put the total funds involved at $20 billion, adding that the move had been agreed in return for a halt to Iranian attacks on ⁠the UAE.