Chicago – June 12, 2026
The United Arab Emirates has agreed to release billions of dollars to Iran, marking a significant strategic shift following weeks of Iranian assaults on the Gulf nation amid its ongoing conflict with the United States and Israel, according to four sources cited by Reuters.
Two regional sources told Reuters that the UAE consented to free up $10 billion, with over $3 billion already transferred to Iran. Two additional sources familiar with the situation estimated the total funds could reach $20 billion, emphasizing the agreement was made in exchange for Iran halting attacks on the UAE. One source confirmed the initial $3 billion payment had already been disbursed.
Diplomats indicate negotiations involve tens of billions in Iranian revenues frozen in foreign banks due to U.S. sanctions. The UAE swiftly issued a categorical denial of the Reuters report despite the sources’ claims.
This diplomatic breakthrough comes as UAE and Iran maintain $27 billion in bilateral trade value, with the UAE serving as Iran’s second-largest trade partner after China. The funds likely originate from Iranian accounts blocked in the UAE or from the country’s own frozen revenues.
