U.S. President Donald J. Trump meets with UAE President Sheikh Mohamed bin Zayed Al Nahyan during a visit to Qasr al Watan (Palace of the Nation) on May 15, 2025, in Abu Dhabi, United Arab Emirates. Win Mcnamee | Getty ImagesThe White House has discussed offering a financial lifeline to the United Arab Emirates as the U.S. war with Iran wreaks havoc on the Gulf state’s economy, a White House official told CNBC.The UAE has not formally requested a currency swap line, and plans are not currently being drawn up, the official said, speaking on condition of anonymity to talk about nonpublic plans. Still, it is being discussed within the administration, the person said. Such a move would provide liquidity in dollars to the oil-rich UAE, but could be politically tenuous for the administration as U.S. consumers grapple with higher prices at home. The UAE and other Persian Gulf nations have been hit hard by the U.S. war with Iran. Tehran has fired troves of missiles at the U.S.’ regional allies, damaging economic infrastructure. Iran’s closure of the Strait of Hormuz has also largely choked off oil exports that the UAE depends on for cash flow. Read more CNBC politics coverageTrump nominee Kevin Warsh Fed confirmation hearing: Live updatesKevin Warsh would be the first tech bro Fed chair. How Silicon Valley shaped himU.S. struck, seized Iranian-flagged ship Touska in Gulf of Oman, Trump saysThree things to know about FISA Section 702: Congress passes short-term extension of controversial surveillance programThe UAE is a particularly close ally of the Trump administration, and has labored to extend overtures to Washington since Trump returned to the White House. The country committed to invest more than $1 trillion in the U.S. last year. The leaders of the Gulf nation are also reportedly intertwined with President Donald Trump’s family business. Trump, on CNBC’s “Squawk Box” Tuesday, appeared to say that he was willing to assist the UAE when asked …
