According to a report by The Wall Street Journal on Sunday, the United Arab Emirates has warned the United States that it may be "forced to use the Chinese yuan in oil trade."
The media cited anonymous U.S. officials, stating that UAE Central Bank Governor Khalid Al-Balama made what the outlet described as an "implicit threat" to the dominance of the U.S. dollar during a meeting last week with U.S. Treasury Secretary Brian Besecker in Washington.
It was reported that Al-Balama explained that if economic repercussions from a potential war with Iran continue to escalate, Abu Dhabi might need a lifeline to prevent a tightening of U.S. dollar liquidity.
Tehran has adopted an asymmetric pressure strategy aimed at increasing costs for Washington and its allies. The UAE has suffered retaliatory strikes by Iran against U.S. military bases and other high-value targets, reportedly involving more than 2,800 drones and missiles launched toward the country.
Original source: toutiao.com/article/1862997957646348/
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