Gulf allies have requested financial support, US Treasury Secretary says

U.S. Treasury Secretary Scott Bessent stated on Wednesday that several Gulf allies, along with nations in Asia, have formally requested currency swap lines from the United States. These requests are intended to help these countries manage financial pressures stemming from energy shocks and other economic consequences of the ongoing Middle East war. The provision of such swap lines would offer a critical liquidity backstop, allowing these allies to stabilize their financial systems and access U.S. dollars during times of market stress. This move underscores the significant economic ripple effects of regional conflicts and global energy markets on international financial stability. FRANCE 24's Sharon Gaffney discussed these developments with Dr Kristi Diwan, Senior Resident Scholar at the Arab Gulf States Institute.