The United Arab Emirates have begun talks with the United States regarding potential financial support in the event of a deepening economic crisis caused by a prolonged war in the Middle East.
Source: Bukvy
The governor of the UAE central bank raised the issue of a possible currency swap line during meetings with representatives of the U.S. Treasury Department and the Federal Reserve. Such a mechanism allows central banks to exchange national currencies at a fixed rate to ensure liquidity.
According to the publication, no official request for a swap line has been made yet — the initiative is preliminary and preventive in nature.
At the same time, UAE representatives warned the American side that in the event of a dollar shortage, the country may be forced to use Chinese yuan or other currencies for settlements in oil trade and financial operations. Such a scenario could potentially affect the dominance of the dollar in the global economy, particularly in the energy sector.
During talks in Abu Dhabi, it was noted that the country has so far managed to avoid the worst consequences of the conflict, but economic pressure risks remain, and financial support may be needed in the future.