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Treasury Secretary Scott Besant spoke publicly on Friday about the plans to grant badam lines to Gulf and Asian allies, explaining that the expansion of this step comes as a way to face the alternative step that leads to the erosion of the dollar’s place as a reserve currency.
Besant explained in a detailed public statement that these discussions reflect the diplomacy of the Treasury Treasury Treasury discussions partners who hold large reserves of dollars, and considered that the expansion of the network of partners with the Federal Reserve will only strengthen the dollar abroad and generate income from the benefits of these benefits to the American reserves.
Why do the allies of the Gulf and Asia want to exchange dollars now?
The timing reflects the pressures caused by the conflict with Iran, while the conflict with Iran led to the tightening of financing in dollars to Gulf energy exporters who price their shipments in dollars.
Reports indicated that officials from the UAE recently floated the idea of ​​establishing a federal direct line last week, and President Donald Trump indicated on April 21 that it was under active consideration.
عدد الإستراب Øول مديق Øرمز to reduce the liquidity of the dollar at the Gulf banks, and this pressure led to an urgent payment to the Fed to obtain short-term support.
Al-Maqayeda lines are a shield against alternative payment systems
The proposal is not related to competing payment networks, referring to BRICS initiatives in payments and energy deals completed in the yuan.
If we do that, new permanent lines will be established, dollar financing centers in Dubai and selected Asian centers.
This shift extends beyond the current five federal partners, namely the United States, the Eurozone, Japan and Switzerland.
The move appears to be low-risk, as the Gulf countries have their budgets.
The official extension of the federal to its permanent facilities may be suspended on the decisions of the administrative administrative administrative administrative administrative al-Shata permanent political.
If approved, the expansion will be the biggest change in the contract.
At the same time, this effort is paralleled with the greatest commitment Stable currencies tied to the dollar and capital market reforms in order to maintain the hegemony of the American dollar.