A week ago, the UAE said it was in consultation with the US government trying to arrange a dollar swap line. Since then, Treasury Secretary Bessent told Congress MANY allies were, too, and not just those in the Middle East. Just hours ago, huge news as the UAE says it’s outright leaving OPEC. There is big stuff going on behind the scenes because the energy shock is indeed a dollar shock and much bigger than people think, and the chances of becoming uncontained are not trivial.

Eurodollar University's Money & Macro Analysis

UAE to Leave OPEC in May as Iran War Reshapes Oil Market
https://www.bloomberg.com/news/articles/2026-04-28/uae-to-leave-opec-and-opec-next-month-to-pursue-new-strategy

Bessent Says Gulf, Asian Allies Requested Currency Swap Lines
https://www.bloomberg.com/news/articles/2026-04-22/bessent-says-many-us-allies-in-gulf-asia-requested-swap-lines

Pimco’s $10 Billion Private Deals Fuel Middle East’s Wartime Cash Quest
https://www.bloomberg.com/news/newsletters/2026-04-27/pimco-buys-abu-dhabi-qatar-kuwait-private-bonds-dubai-homes-prices-fall

Dubai's DIFC introduces temporary economic support for businesses, retail community
https://www.reuters.com/world/middle-east/dubais-difc-introduces-temporary-economic-support-businesses-retail-community-2026-04-09/