Tag: uae

The United Arab Emirates (UAE) has been secretly carrying out attacks against Iran, according to The Wall Street Journal.

The attacks included a strike on an oil refinery on Iran’s Lavan Island in early April, triggering a major fire and knocking much of the facility offline for months.

Iran acknowledged at the time that the refinery had been struck in what it described as an enemy attack.

Tehran later responded with missile and drone strikes against the UAE and Kuwait.

While Gulf states publicly insisted before the war that they would not allow their territory or airspace to be used for attacks on Iran, the UAE became an active participant in the conflict after coming under sustained Iranian attack.

Iran launched more than 2,800 missiles and drones at the UAE during the war, more than against any other country besides Israel.

The attacks disrupted tourism, aviation, and property markets across the Emirates and reportedly triggered a major shift in Abu Dhabi’s strategic outlook toward Tehran.

U.S. officials are said to have quietly welcomed the UAE’s participation in the war effort, according to the report.

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UAE claims to have the ‘full and legitimate right to respond to these attacks’.

The ceasefire in the Middle East seems to have been broken today, as the United Arab Emirates reports that Iran fired four missiles toward its territory.

The UAE says that it is actively engaging with a ‘missile and drone attack’.

Axios reported:

“There were also fires reported at a fuel facility in the UAE and on ships off its coast. Iran has not claimed responsibility for any of the apparent attacks.

This would be the first time Iran attacked a Gulf state since the ceasefire was announced nearly a month ago. The U.S. and Iran may now be on the precipice of a return to war.”

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I have said for years that people misunderstand the global monetary system. It is not driven by trade balances. It is driven by capital flows and access to dollar liquidity. The discussion of a currency swap between the United States and the United Arab Emirates shows how the system actually works under stress.

The United States is now considering a currency swap with the UAE as tensions around Iran rise. This is not about trade policy. It is about liquidity. When uncertainty increases, capital begins to move. Countries need dollars to stabilize their financial systems and maintain confidence.

Currency swaps are often presented as technical tools. In reality, they are lifelines. They allow a foreign central bank to access U.S. dollars directly. This bypasses stressed markets and helps prevent a liquidity crisis that could trigger capital flight.

This is exactly what happens during geopolitical conflict. The Iran situation has raised concerns about the Strait of Hormuz. That region is critical for global energy flows. When energy is threatened, markets react immediately. Currency volatility rises and capital seeks safety.

The UAE is a strong economy, but it is still exposed. Its currency is pegged to the U.S. dollar, meaning it must maintain sufficient dollar reserves to function properly. When global stress increases, even strong economies seek direct dollar access. That is why a swap line becomes important.

There is also a geopolitical layer. Currency swaps are tools of influence. When the United States provides dollar liquidity, it reinforces alignment. If access is restricted, countries look for alternatives. That can include increasing use of other currencies like the Chinese yuan. The UAE has stated it would consider using the yuan if the U.S. denies them the opportunity to swap, but the issue has become polarizing.

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Iran struck a military base housing British, US and Australian troops in the United Arab Emirates during overnight strikes across the Gulf.

A missile hit the Al Minhad Air Base where the UK maintains a permanent military facility, at 9.15am AEDT on Wednesday morning.

Anthony Albanese, the Australian prime minister, said the projectile caused ‘minor damage’ to an accommodation ​block and a medical ‌facility ⁠due to a small blaze that was created as ​a result ​of ⁠the missile hitting on ​a road leading ​up ⁠to the base.

More than 100 Australian military personnel are deployed at Al Minhad.

Albanese confirmed that all Australian staff were ‘absolutely safe’ following the attack at the base, which is operated by the UAE and functions as Australia’s military headquarters for the Middle East. 

He could not confirm if Tehran directly targeted the site, however, while maintaining Australia was not at war. 

‘The Iranian regime is engaging in random attacks right across the region. We know that is the case,’ the prime minister said. 

In 2014, the UK launched a permanent headquarters at the base to support British operations in the region. 

The Ministry of Defence has yet to comment on the attack. 

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Upon the overnight major US attack on Iran’s key oil hub of Kharg island, here’s what Iran’s military is threatening to do by way of response and escalation – which was also entirely predictable:

“If Iran’s oil, economic, or energy infrastructure is attacked, we will immediately destroy energy and economic infrastructure across the region belonging to companies with American shareholders or ties to the U.S.” –IRGC spox

Iran continues launching widespread missile and drone attacks on Israel and neighboring Gulf Arab states and has effectively closed the Strait of Hormuz.

Iranian Parliament Speaker Mohammad Bagher Ghalibaf has vowed that any US site or any country hosting it will feel pain. “This war proved one thing quite clearly: American bases in our region do not protect anyone – they are a threat,” he wrote on X. “America sacrifices everyone for Israel and does not care about anyone but Israel.”

He added, “Anyone clothed by the US is literally NAKED!” And in fact this retaliation is already in progress on Saturday. 

A missile struck a helipad inside the US Embassy compound in Baghdad, and debris from an intercepted Iranian drone hit an oil facility in the United Arab Emirates on Saturday.

Iran’s Islamic Revolutionary Guard Corps (IRGC) has informed the United Arab Emirates that US “hideouts” are “legitimate targets” after the US struck Iran’s Kharg island. —Al Jazeera

Associated Press images meanwhile showed a column of smoke rising over the embassy compound in the Iraqi capital and a fire at the Fujairah port, offering confirmation.

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