UAE warns of dollar shift without US aid

The United Arab Emirates is in talks with the United States for emergency financial support, fearing its reserves could be depleted by the economic fallout from the conflict with Iran. Emirati authorities say they are managing the crisis for now but may need a 'financial cushion' due to the situation in the Strait of Hormuz and investor flight. The UAE explicitly states that the US decision to attack Iran has drawn it into a conflict with unpredictable consequences. If a dollar shortage occurs, the UAE warns it may switch oil settlements to the yuan or other currencies, posing a direct risk to the dollar's dominance in the global oil market.