0625 GMT February 17, 2020
An Iranian lawmaker said that the United Arab Emirates has released $700 million of Tehran’s frozen assets in a sign that the Arab country is trying to repair its relations with Tehran.
The UAE “has released $700 million of Iran’s frozen money,” the Iranian lawmaker Akbar Torki told ICANA on Sunday without providing any further detail.
“UAE's currency relations with Iran have improved and some Iranian exchange offices in Dubai have resumed activity,” Torki added.
The UAE has revised relations with Iran, he said, adding that, “Emiratis have also understood that Western countries and Saudi Arabia cannot provide the country with security in current circumstances.”
“UAE is introducing itself as the Middle East’s Switzerland but trade, banking, energy, and aviation of this country depends on security and it knows that it cannot succeed without security.”
The remark came as some other Iranian officials had also pointed to improved relations between Iran and the UAE. Chief of Staff of Iranian President Mahmoud Vaezi said on Thursday that “Emiratis took the initiative in solving issues with Iran.”
Also, President Rouhani pointed to the issue in a press conference on Monday saying that, "There have been communications between Iran and the UAE in recent months.
Some UAE officials came to Iran and some Iranian officials went there. Relations between Tehran and the UAE have been better in recent months, he said.
Tensions between the UAE and Iran have been on the rise since the United Arab Emirates joined the Saudi coalition in the war in Yemen. Meanwhile, tensions between the two countries reached a fever pitch after four oil tankers were targeted in the territorial waters of the UAE. The US and its regional ally Saudi Arabia quickly blamed Iran for the suspicious attacks.
However, Tehran rejected the accusations of its involvement as baseless.