The UAE has warned the US it may be forced to use Chinese yuan or other currencies for oil sales if it runs low on US dollars.
The Wall Street Journal reports the UAE has opened talks with the U.S. for a financial backstop, emphasizing concerns about major economic damage from the Iran war.
The UAE has explicitly threatened to sell its oil in Chinese yuan if the US does not supply it with sufficient dollars, according to a new WSJ report.
The Wall Street Journal confirms the UAE has discussed obtaining US financial support specifically if the war worsens the economic crisis.
The message adds that the UAE's cashflow has collapsed due to its inability to export oil, providing the specific economic rationale for the request.
The UAE has now specifically warned the US it may be forced to use Chinese yuan or other currencies for oil sales if it runs low on US dollars.
