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April 20, 2026

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Could UAE tap US currency swap line as Iran war strains Gulf economies?

The Gulf country apparently wanted reassurances from Washington in case its economy is severely damaged by the Iran war.

United Arab Emirates

A man walks past a screen displaying stock indices at the Dubai Financial Market stock exchange in Dubai, March 4, 2026.

Oil rises, Gulf stocks slide after Iran ship seizure throws truce into doubt

In a post on Truth Social on Sunday, US President Donald Trump said the US Navy fired at and seized an Iranian-flagged cargo ship in the Gulf of Oman.

Pakistan Air Force J-10 fighter jets over Islamabad, March 23, 2025.

Analysis

Pakistan’s quiet fighter jet deployment to Saudi Arabia signals Gulf anxiety

As US-Iran talks unfold, Islamabad balances mediation with a growing military role in the kingdom.

Sabena Siddiqui

By Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Abdulla Balalaa, Assistant Minister of Foreign Affairs for Energy and Sustainability, United Arab Emirates

Interview

UAE official says opening Hormuz integral to any Iran deal, describes infrastructure damage 'manageable'

Abdulla Balalaa, UAE assistant minister of foreign affairs for energy and sustainability, spoke to Al-Monitor about the situation in the Gulf along with the UAE's focus on promoting privatization in the water sector and the 2026 UN Water Conference.

Latest News

'The reach is global': Pentagon vows pursuit of ships tied to Iran trade

STRAIT OF HORMUZ - NOVEMBER 19: In this handout photo provided by the US Navy, The aircraft carrier USS Abraham Lincoln (CVN 72) transits the Strait of Hormuz as an MH-60S Sea Hawk helicopter from the Nightdippers of Helicopter Sea Combat Squadron (HSC) 5 lifts off from the flight deck November 19, 2019. The Abraham Lincoln Carrier Strike Group is deployed to the U.S. 5th Fleet area of operations in support of naval operations to ensure maritime stability and security in the Central Region, connecting the M

Analysis

How long can Iran's economy weather US naval blockade?

Getty Images

In Bristol, reporting on regional business, climate change, AI, tech

Analysis

Why Netanyahu caved to Trump on Lebanon and what it means for Israel

Israel's Prime Minister Benjamin Netanyahu speaks during a joint press conference with his Indian counterpart Narendra Modi in Jerusalem on February 26, 2026. (Photo by GIL COHEN-MAGEN / POOL / AFP via Getty Images)

In Tel Aviv, reporting on national security, Israeli politics, defense

Iran says Strait of Hormuz 'completely open' to ships

MUSCAT, OMAN - MARCH 25: Locals take photos of two bulk carriers anchored at Muscat Anchorage on March 25, 2026 in Muscat, Oman. Maritime traffic through the Strait of Hormuz, which conveys about 20% of the world's oil and gas, has mostly come to a halt after the joint U.S.-Israeli war with Iran that began on February 28. Iran, in a defiant reply to a ceasefire proposal from the United States, has claimed that sovereignty over the Strait of Hormuz "is its natural and legal right." Under international law, t

Elizabeth Hagedorn

Diplomatic Correspondent

In Washington, DC, reporting on diplomacy, regional politics, human rights

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

A correspondent in Tehran

In Tehran, reporting on politics

Benjamin Houghton

In Durham, reporting on China in the Middle East

Rahim Rahimov

In Baku, reporting on Middle East-Caucasus ties

Mehrnaz Samimi

In Washington, DC, reporting on Iranian culture

Why Iran wants Palestine back on regional agenda

Iran hosts a conference in support of the Palestinian intifada as it seeks to put the Palestinian cause back at the top of its regional agenda.

Foreign ministers, Mevlut Cavusoglu (2nd L) of Turkey and Mohammad Javad Zarif (R) of Iran, attend a meeting in Moscow, Russia, December 20, 2016. REUTERS/Maxim Shemetov - RTX2VUBT

Is Iran-Turkey tension intentional?

Turkey, while seeking to access Gulf funds and boost its defense industry exports, has risked economic relations with Iran — but the risk could also hold opportunity.

Riot police stand in front of demonstrators during a protest demanding an overhaul of the elections’ supervision commission ahead of provincial elections due in September, in Baghdad,Iraq February 11, 2017. REUTERS/Alaa Al-Marjani - RTSY5AH

Shiite political differences widen gap between Najaf, Qom

The political differences between Qom and Najaf clerics indicate a sharp conflict between the two schools after Ali al-Sistani, whose death will create a broad vacuum in the Shiite scene.

Hamas leader Yehia Sinwar attends a rally in Khan Younis in the southern Gaza Strip January 7, 2016. The rally, organized by Hamas movement, was held to honor the families of dead Hamas militants, who Hamas's armed wing said participated in imprisoning Israeli soldier Gilad Shalit, organizers said. Shalt was abducted by militants in a cross-border raid in 2006, and was released in exchange for more than 1,000 Palestinians held in Israeli jails. REUTERS/Mohammed Salem - RTX21FPI

Has Hamas completely forgotten Saudi Arabia?

The appointment of Yahya Sinwar as Hamas’ head in the Gaza Strip undermines the rapprochement between the movement and Saudi Arabia, while drawing Iran closer to the Palestinian resistance.

EDITORS' NOTE: Reuters and other foreign media are subject to Iranian restrictions on their ability to film or take pictures in Tehran.

Nominee for Health Minister Marzieh Vahid-Dastjerdi speaks to lawmakers in parliament in Tehran September 1, 2009. REUTERS/Morteza Nikoubazl (IRAN POLITICS) - RTR27BK4

Will this woman become Iran’s first female president?

In a remarkable twist, Iranian Reformists appear to eagerly welcome the potential candidacy of female Principlist Marzieh Vahid Dastjerdi in the upcoming presidential elections.

President-elect Donald Trump, left, and President Barack Obama arrive for Trump's inauguration ceremony at the Capitol in Washington, D.C., U.S. January 20, 2017. REUTERS/J. Scott Applewhite/Pool - RTSWJEB

Was Obama lost opportunity for Iran-US relations?

Iran’s foreign minister believes that recent criticism by Iran’s neighbors stems from their regional failures.

Freed Palestinian Hamas leader Yehia Sinwar (C) greets supporters following his release from an Israeli jail at a welcome tent near his home in Khan Yunis, southern Gaza Strip, on October 19, 2011. The Palestinian Hamas movement exchanged Gilad Shalit, the Israeli soldier who spent more than five years of isolation in a Gaza hide-out, for hundreds of Palestinian militants being held in Israeli jails. AFP PHOTO/SAID KHATIB (Photo credit should read SAID KHATIB/AFP/Getty Images)

Food vs. guns: Will Hamas chose Egypt or Iran?

The military wing of Hamas in Gaza pressures the new boss Yahya Sinwar to mend ties with Iran, while the residents of the Gaza Strip need the assistance of Egypt against the misery of the long closure.

Iran's Supreme Leader Ayatollah Ali Khamenei speaks live on television after casting his ballot in the Iranian presidential election in Tehran June 12, 2009. REUTERS/Caren Firouz/File Photo - RTX2FG6N

Can Iran's Khamenei rule out ‘national reconciliation’?

Despite his stated skepticism of the idea of national reconciliation, Iran’s Supreme Leader Ayatollah Ali Khamenei may in effect be maneuvering to decide the terms of such a reconciliation.

Iran's President Mahmoud Ahmadinejad sits in a chair after addressing the 67th United Nations General Assembly at the U.N. Headquarters in New York, September 26, 2012. REUTERS/Keith Bedford (UNITED STATES - Tags: POLITICS) - RTR38G44

Is Ahmadinejad defying Khamenei’s 'advice' to abandon ambitions?

Former Iranian President Mahmoud Ahmadinejad is believed to be back in the game with his former deputy’s announcement that he intends to run in the upcoming presidential elections.

Protesters shout anti-Iran slogans and hold placards in front of the Iranian embassy on December 16, 2016, in Istanbul, during a demonstration against Iranian involvement in the siege of Aleppo, the latest in a series of demonstrations in Europe over the Syria crisis.
Turkey has provided support to the Syrian opposition and repeatedly called for Assad to go. Protests have been staged in several European cities as the horror in Aleppo has unfolded, with reports of atrocities including summary executions.
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Turkish-Iranian rivalry hits peak as Syria talks kick off

Both countries accuse each other of destabilizing the region and undermining security in Iraq and Syria.

Israeli Foreign Minister Avigdor Liberman (C) walks with Malta's Prime Minister Lawrence Gonzi (R) at the prime minister's office at Auberge de Castille in Valletta June 24, 2010.
REUTERS/Darrin Zammit Lupi (MALTA - Tags: POLITICS) MALTA OUT. NO COMMERCIAL OR EDITORIAL SALES IN MALTA - RTR2FNQR

Israel defense minister: We must coordinate moves with Trump

In an exclusive interview with Al-Monitor, Defense Minister Avigdor Liberman confirmed that he still supports a two-state solution, but one involving population as well as land swaps and as one part of a regional agreement.

Iran's Komeil Nemat Ghasemi (blue) wrestles with USA's Tervel Ivaylov Dlagnev in their men's 125kg freestyle semi-final match on August 20, 2016, during the wrestling event of the Rio 2016 Olympic Games at the Carioca Arena 2 in Rio de Janeiro. / AFP / Jack GUEZ (Photo credit should read JACK GUEZ/AFP/Getty Images)

Will new travel ban impede Iran-US athletic competition?

Champion American wrestler Jordan Burroughs says he feels nothing but love from Iranians but “obviously, Donald Trump sees Iran a little different than I see Iran.”