Key Points
- Treasury Secretary Scott Bessent in a social media post Friday defended the possibility of the U.S. participating in currency swaps with allies in the Persian Gulf and Asia during the Iran war.
- The ongoing discussions with those countries about U.S. dollar swap lines “are part of ongoing, routine conversations that @USTreasury has been having with our partners over a number of years,” Bessent said.
- Bessent previously said “many” allies in the Gulf seek the same backstop as the war wreaks havoc on the oil-rich nations’ economies.
