Hassett: The United States is willing to provide financial support to the UAE, but it may not be necessary.

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Amid ongoing turmoil in Iran, the United States has signaled its willingness to provide financial support to the United Arab Emirates, but the White House’s chief economic adviser believes it may not be necessary.

President Trump’s chief economic adviser and director of the National Economic Council, Kevin Hassett, said on Monday that if conflict in Iran were to worsen the UAE’s economic outlook, the US would be willing to offer assistance.

Previously, according to The Wall Street Journal, the governor of the UAE central bank, Khaled Mohamed Balama, met last week in Washington with US Treasury Secretary Janet Yellen and Federal Reserve officials, proposing the idea of establishing currency swap lines to prevent the UAE from being dragged into a deeper economic crisis by war.

Hassett stated, "The UAE is an extremely important ally, and I believe the Treasury Secretary will do everything possible to offer help if necessary." He also added, "I think it’s very likely this won’t be necessary."

Hassett also mentioned that he himself has not yet discussed this issue with the Treasury Secretary.

The United States has had similar precedents. Last autumn, the US signed an economic stabilization agreement with Argentina aimed at boosting the peso’s exchange rate and providing support for President Trump’s ally, Argentine President Javier Milei, in crucial midterm elections.

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