Valid points, but here’s a slightly different way of framing it: why wouldn’t the UAE seek cheaper access to USD from the Treasury/Fed?
The UAE Central Bank’s forex reserves cover 5-6 months’ worth of imports. Not bad but could be stretched thin in wartime. 1/2
The UAE isn't just oil rich, as the NYT suggests, it is asset rich:
The UAE's central bank had more assets at the end of February than the Treasury's Exchange Stabilization Fund ($285b v $213b including the US SDR balance). It also had more bills! $73b v $23.5b ...
1/