US Eyes Dollar Lifeline for Gulf as Oil Shock Squeezes Cash
BeInCrypto
Treasury Secretary Scott Bessent is considering permanent dollar swap lines for Gulf and Asian allies to bolster liquidity and counter alternative payment systems.Summary
Treasury Secretary Scott Bessent has announced plans to expand the Federal Reserve's dollar swap network to include Gulf and Asian allies. This initiative aims to provide critical dollar liquidity to partners facing financial pressure due to regional conflicts and oil market volatility. By strengthening these ties, the US seeks to reinforce the dollar's global primacy and counter the growth of alternative payment networks, such as those promoted by BRICS.
(Source：BeInCrypto)