US President Donald Trump confirmed that the US is considering providing financial assistance to the UAE, indicating that a currency swap agreement between the two countries is under consideration, Reuters reported on Tuesday.
In an interview with CNBC, Trump responded to a question about the possibility of the swap by saying, “Yes,” while describing the UAE as “a good ally.”
“The Emiratis really have great leaders… They are very wealthy.”
Trump explained that his country is aiding the UAE more in the US-Israeli conflict against Iran, emphasizing his readiness to provide support should the UAE face a financial crisis.
The UAE Ambassador to the US, Yousef al-Otaiba expressed his appreciation for Trump’s recognition of the UAE’s importance as a strategic partner, but sought to emphasize the strength of its economy.
In a statement published by the embassy on its website, he clarified, “Any suggestion that the UAE needs external financial support is a misreading of the facts.”
“The UAE and the US will continue to prosper together for decades to come, not because one depends on the other, but because both benefit from one of the world’s most important economic partnerships,” he explained.
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