UAE Asks Trump Administration for Lifeline, Raises Yuan Transactions: Report

The Dubai skyline with the landmark Burj Khalifa skyscraper (R) is pictured as a smoke plume rises from an ongoing fire near Dubai International Airport on March 16, 2026. Photo by AFP

The Wall Street Journal reports that the United Arab Emirates has initiated talks with the Trump administration about a possible dollar swap line to serve as a financial backstop against further damage related to the war in the Middle East.

U.A.E. Central Bank Gov. Khaled Mohamed Balama reportedly discussed the option with U.S. Treasury Secretary Scott Bessent last week. It would give the UAE inexpensive access to U.S. dollars to limit a liquidity crisis.

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by CGSP Staff

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