U.S. officials have pushed back against reports suggesting that the U.S., the United Arab Emirates, or other nations have unblocked billions in Iranian assets in return for Iran halting attacks on the UAE.
Recently, two unnamed sources claimed that the UAE was set to release $10 billion as part of a ceasefire agreement, with over $3 billion supposedly already transferred. However, the UAE Foreign Ministry later refuted this information, and U.S. officials, including Vice President J.D. Vance, emphasized that Iran would not receive any funds until it made “meaningful steps” toward denuclearization.
A senior U.S. official shared some insights but noted the uncertainty surrounding the claims. “It’s interesting to report on this, but we’re not quite sure where it’s coming from. We think there might be factions within Iran’s hardline establishment trying to signal to allies and a domestic audience, especially since they oppose the interim U.S.-Iran peace plan,” the official stated.
According to the official, it’s simply untrue that any unfrozen assets had been released by the U.S. or any other nation, calling the idea of a side deal between the UAE and Iran without U.S. knowledge “ridiculous.”
Moreover, they asserted that the majority of sanctions stem from U.S. control over the assets involved. Reuters also referenced two sources saying the purported backroom deal was for at least $20 billion in exchange for Iran stopping its attacks on the UAE.
The UAE Ministry of Foreign Affairs firmly declared these claims “completely false and baseless,” reiterating that no frozen Iranian funds had ever been released or moved through the UAE.
Additionally, a senior U.S. source indicated that Gulf states appreciate the interim peace plan and mentioned that countries like Qatar and the UAE would not make clandestine deals with Iran.
“We’ve been close allies for a long time, not just during this operation. So, the notion that any of these nations would cut a side agreement with Iran is not only improbable, it’s quite absurd,” the official added.
Speculation about lifting the asset freeze has been making rounds. The Financial Times reported that following the signing of a peace memorandum between the U.S. and Iran, the U.S. might allow Qatar to release $6 billion in frozen Iranian assets, enabling Iran to purchase humanitarian and non-sanctioned goods from the U.S.
However, Vance dismissed that claim during a press briefing, stating that “much of this reporting is fundamentally wrong.” He remarked on the rumors regarding Qatar’s release of billions in Iranian assets, asserting it was simply untrue. “It would be impossible for Qatar to do this without our agreement, and of course, we would need to understand it,” he added.
Vance concluded that Iran wouldn’t receive any unfrozen assets until they fulfilled their obligations. “It’s their money, not ours, but they won’t get a dollar until they actually perform according to the contract,” he stated.
