Bessent Says US Allies in Gulf, Asia Requested Swap Lines

Treasury Secretary Scott Bessent said Wednesday that many Persian Gulf allies along with a number of Asian nations have requested foreign exchange swap lines with the US, and pointed to the potential for such arrangements to support dollar-denominated lending overseas.

“Many of our Gulf allies have requested swap lines,” Bessent said in answering questions at a Senate Appropriations subcommittee, a day after President Donald Trump confirmed that a currency swap with the United Arab Emirates was under consideration. “Numerous other countries, including some of our Asian allies, have also requested them.”