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Iran WAR Shocker For Trump: Leading U.S. Gulf Ally UAE Ready To Ditch Dollar For Chinese Yuan
| Apr 20, 2026, 09:42:08 PM | TOI.in
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Is the era of U.S. dollar's dominance over? The United Arab Emirates, a key Washington ally, is reportedly evaluating the use of China's yuan for oil trade. According to a U.S. media report, Abu Dhabi's central bank governor has issued what it is being called an "implicit threat" against the American dollar's dominant position during a meeting with treasury secretary Scott Bessent in Washington last week. The UAE central bank governor argued that Abu Dhabi could need a lifeline to prevent a dollar liquidity crunch in case the economic fallout from the US war against Iran continued to rise, the report added.
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