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Benzinga
  • 3 hours ago
The White House has discussed offering a currency swap line to the UAE as the Iran war strains the Gulf state's economy. Iran has fired missiles at regional allies and closed the Strait of Hormuz, choking off UAE oil exports. No formal request has been made and no plans are being drawn up, but internal discussions are ongoing. Trump said he is willing to assist the UAE. The Federal Reserve would make the final decision.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street
00:03The White House has discussed offering a currency swap line to the United Arab Emirates as the
00:07U.S. war with Iran strains the Gulf state's economy according to CNBC.
00:12The UAE has not formally requested a swap, and no plans are being drawn up, but internal
00:18discussions are ongoing.
00:19Iran has fired missiles at regional allies and closed the Strait of Hormuz, choking off
00:24UAE oil exports.
00:26President Trump said he is willing to assist the country.
00:29Lawmakers are divided, with Republicans expressing support and Democrats raising concerns about
00:34ties to Trump's family business.
00:36The Federal Reserve would make the final decision.
00:38For all things money, visit Benzinga.com.
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