UAE Refutes Claims of Billions in Funds Sent to Iran

WHO:

CNBC - The United Arab Emirates (UAE) government, Iran, U.S. Treasury, Atlantic Council think tank, Vice President JD Vance.

The Times of Israel - Iranian authorities, UAE’s national security adviser Sheikh Tahnoun bin Zayed al Nahyan, Islamic Revolutionary Guard Corps.

WHAT:

CNBC - The UAE denied reports of releasing billions of dollars of frozen funds to Iran, stating the allegations are "entirely false and unfounded."

The Times of Israel - Reports indicated the UAE agreed to unlock a total of $10 billion for Iran, with more than $3 billion already delivered.

The Times of Israel - Two sources indicated the total funds involved could be as high as $20 billion, contingent on halting Iranian attacks on the UAE.

WHERE:

CNBC - Dubai, UAE.

The Times of Israel - Dubai, UAE; Fujairah port on the Gulf of Oman.

WHEN:

The Times of Israel - The last known direct attack by Iran on the UAE occurred on May 4.

The Times of Israel - Talks regarding the arrangement began several weeks ago, with a visit from Iranian officials to Abu Dhabi occurring recently.

WHY:

CNBC - The UAE's denial of fund transfers comes amid U.S.-led military actions and Iranian attacks on Emirati targets.

The Times of Israel - The arrangement is seen as a tactical shift to halt Iranian attacks and foster peace, with the UAE aiming to reduce regional tensions.

HOW:

The Times of Israel - The arrangement reportedly involves Iran halting missile and drone attacks on the UAE in exchange for the release of funds.

The Times of Israel - The UAE's foreign policy is described as promoting de-escalation and reducing tensions across the region.

(UPDATED June 13, 2026 19:24 UTC)

The United Arab Emirates government has firmly denied allegations that it is releasing billions of dollars in frozen funds to Iran, calling the claims "entirely false and unfounded." Despite reports suggesting that the UAE may unlock a total of $10 billion for Iran, with over $3 billion already delivered, the UAE's stance comes amid ongoing U.S.-led military actions and Iranian attacks on Emirati targets. The arrangement, which could involve Iran halting missile and drone attacks in exchange for the release of funds, reflects the UAE's broader foreign policy goal of promoting de-escalation and reducing regional tensions.