U.A.E seeks reducing tensions with Iran: Reports
The United Arab Emirates had released $700 million of Iran's frozen assets in that country, Akbar Torki, a member of the Iranian Parliament, said.
In remarks on Sunday, Torki said foreign-exchange relations between Iran and the UAE have improved, adding that Iranian exchange bureaus have reopened in Dubai after a long period of closure.
However, he did not go into detail about the development, and the Iranian Foreign Ministry has also remained silent.
In the meantime, Iranian news reports said the UAE, like Saudi Arabia, has been recently trying to "downgrade tensions between the two countries and Iran from the military level to a political level."
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 when Iran was blamed for attacks on four oil tankers on the UAE shores in July.