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The Times of India

World

TOI World Desk

Yuan for oil payments? UAE seeks US safety net amid Iran war - report

UAE United States Iran the UAE Oil Economy Gulf International Monetary Fund WSJ

The United Arab Emirates has asked the United States for a financial safety net in case the Iran war plunges the region into a deeper crisis, the Wall Street Journal reported on Monday, citing US officials.

The talks highlighted the UAE’s concern that the war could inflict major damage on its economy and its position as a global financial hub, depleting its foreign reserves and scaring away investors who once saw it as a stable and secure place for their money.

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