UAE ‘categorically’ denies report that it transferred $3 bln to Iran

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 the UAE had transferred at least $3 billion to Iran.

The Emirati Foreign Ministry “affirmed that these allegations are entirely false and unfounded, stressing that no frozen Iranian funds have been released, transferred, or facilitated through the UAE.”

The ministry also called on media outlets to exercise “accuracy,” rely on official sources, and refrain from publishing or circulating “unverified information and unfounded allegations.”

Citing two regional sources, Reuters had reported that the UAE had agreed to release a total of $10 billion to Iran. Two other sources reportedly said that the total funds involved were closer to $20 billion.

A source with knowledge of the deal said that the money would be disbursed, and in return, Iran would stop attacking the UAE with missiles and drones.

Earlier this week, reports suggested that Emirati officials traveled to Iran after IRGC officials made a previous visit to the UAE to discuss potential arrangements.