DUBAI, June 13 (Xinhua) -- The United Arab Emirates (UAE) on Saturday denied media reports alleging that funds had been transferred from the UAE to Iran, including claims involving 3 billion U.S. dollars.

In a statement, the UAE Ministry of Foreign Affairs said the allegations were "entirely false and unfounded," adding that no frozen Iranian funds had been released, transferred or facilitated through the UAE.

The denial came after some international media outlets, citing unnamed sources, reported that the UAE had agreed to unlock billions of dollars for Iran as part of broader efforts to end the U.S.-Israeli conflict with Iran. The reports cited differing estimates, saying the arrangement involved between 10 billion and 20 billion dollars, with at least 3 billion dollars already made available, possibly in exchange for a halt to Iranian attacks on the UAE.

Since the United States and Israel launched massive attacks on Iran on Feb. 28, the UAE has been targeted by rounds of Iranian strikes, with the latest reported on May 4-5.