UAE agrees to release billions in frozen Iranian funds amid US-brokered ceasefire talks
By
Al Jazeera
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Summary
The United Arab Emirates has agreed to unlock billions of dollars in frozen Iranian funds as part of a tactical shift following weeks of Iranian attacks on the Gulf state amid Iran's ongoing war with the US and Israel. The move coincides with broader negotiations between Tehran and Washington to end the war, which reportedly involve releasing tens of billions of dollars in Iranian oil revenues frozen in foreign banks under US sanctions. Regional sources indicate the UAE is releasing funds to ease tensions with Iran and allow both sides to avoid crossing 'red lines.'
Key quotes
· 3 pulledThe United Arab Emirates has agreed to unlock billions of dollars for Iran, pursuing a tactical shift after weeks of Iranian attacks on the wealthy Gulf Arab state amid its ongoing war with the United States and Israel.
The report on the move coincided with the final stages of broader negotiations between Tehran and Washington to end the war.
Diplomats say those talks involve the release of tens of billions of dollars in Iranian oil revenues frozen in foreign banks under US sanctions.
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