UAE Threatens Yuan Oil Trade if US Denies Dollar Lifeline as Iran War Drains Reserves

The United Arab Emirates has opened talks with Washington about a dollar liquidity backstop — and warned that without one, it may shift oil and gas transactions to Chinese yuan, according to the Wall Street Journal. Central Bank Governor Khaled Mohamed Balama brought the proposal to Federal Reserve officials and Treasury Secretary Scott Bessent in […] The post UAE Threatens Yuan Oil Trade if US Denies Dollar Lifeline as Iran War Drains Reserves appeared first on the deep dive.