UAE seeks US dollar access amid Middle East tensions: WSJ

The United Arab Emirates has sought access to US dollars as a precaution against potential economic fallout from escalating tensions in the Middle East, according to a report by The Wall Street Journal. UAE Central Bank Governor Khaled Mohamed Balama raised the issue during meetings in Washington last week with US Treasury Secretary Scott Bessent and officials from the Federal Reserve. Discussions focused on the possibility of a currency swap arrangement to ensure liquidity if regional instability intensifies. The report said Emirati officials stressed that while the country has so far avoided the worst economic impacts of the conflict, it may still require a financial lifeline in a worst-case scenario. The request underscores growing concerns among regional economies about maintaining access to dollar funding during periods of geopolitical uncertainty.

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