UAE explores freezing Iranian assets to punish Tehran for attacks, WSJ reports

The United Arab Emirates is weighing freezing billions of dollars ​of Iranian assets held in the Gulf state, a ‌move that could curb Tehran's access to foreign currency and global trade amid the U.S.-Israeli military conflict, the Wall Street Journal reported ​on Thursday.

Reuters could not immediately confirm the report. The ​Emirati foreign ministry did not immediately respond to ⁠a Reuters' request for comment outside business hours.

UAE authorities ​are weighing measures ranging from freezing the assets of UAE-based ​shadow companies used to mask trade to a sweeping financial crackdown on local currency exchanges which are used to move money outside of ​formal banking channels, the report said, citing officials familiar ​with discussions.

If the UAE decides to move on Iran’s shadow-financing empire, ‌a ⁠key target would be accounts affiliated with the Islamic Revolutionary Guard Corps, the report added.

UAE policymakers are also considering direct maritime action, such as seizing Iranian ships, the report ​said, citing two ​of the ⁠officials familiar with the discussions.

The United States and Israel launched coordinated strikes on Iran on Saturday, ​prompting Tehran to fire missiles toward Israel ​and several ⁠Gulf locations hosting U.S. military facilities in retaliation.

UAE officials have privately warned Iran of the possible action it could ⁠take on ​Tehran, the report said, adding ​that it wasn't clear when or if the government would act.

Reuters