UAE Unlocks $10 Billion for Iran as $3 Billion Already Sent to Halt Attacks
Updated
Updated · Reuters · Jun 12
UAE Unlocks $10 Billion for Iran as $3 Billion Already Sent to Halt Attacks
3 articles · Updated · Reuters · Jun 12
Summary
$10 billion to $20 billion in funds is being unlocked by the UAE for Iran under a deal tied to stopping Iranian missile and drone attacks, with a first tranche of more than $3 billion already delivered, sources said.
The arrangement marks a sharp shift after weeks of wartime hostility that hit Dubai's hotels, prompted some expatriates to leave and damaged the UAE's image as a safe regional business hub.
Talks began several weeks ago and accelerated after Revolutionary Guards officials visited Abu Dhabi last week, followed by UAE officials traveling to Tehran to work out the transfer mechanism.
The deal is also meant to revive bilateral ties through intelligence sharing and economic cooperation, while the UAE says its policy is aimed at de-escalation and regional stability.
It comes as Tehran and Washington near broader war-ending talks that could unlock tens of billions in frozen Iranian oil revenues, though U.S. officials say Iran will not be paid simply for signing a deal.