UAE Set to Release Billions of Dollars For Iran

The UAE has mutually agreed to release billions of dollars for Iran, a significant breakthrough after weeks of Iranian attacks on the wealthy Gulf Arab state during the US-Israeli war with the Islamic Republic.

While this major move coincides with the closing period of broader negotiations between Tehran and Washington on ending the war that diplomats say official payout could involve the release of tens of billions of dollars in frozen Iranian oil revenues.

The UAE statement reads: “Affirmed that these allegations are entirely false and not proved, emphasizing that no frozen Iranian funds have been released, transferred or facilitated through the UAE.”

Vice President JD Vance said on Friday that the funds will be withheld to Iran upon signing a deal with the US, that the proposed agreement is arranged to ensure that economic benefits will flow to Tehran if it honors its commitments.