UAE discusses US financial backstop as Iran war threatens deeper economic crisis

The United Arab Emirates is in talks with the Trump administration over possible financial assistance if the war with Iran drags on, The Wall Street Journal reported. The report said UAE Central Bank Governor Khaled Mohamed Balama met US Treasury Secretary Scott Bessent and Federal Reserve officials in Washington last week, where he raised the idea of a currency-swap line. A currency-swap line is a backup deal that helps a country get US dollars fast in an emergency. Countries may want this when war or crisis causes panic in the economy. In the UAE’s case, it suggests concern that a longer conflict with Iran could hurt confidence, disrupt trade and put pressure on its financial system. READ: Standing between missiles […]