What holds. What breaks.

Analysis on jurisdictional exposure, custody architecture, and the structural fragility of wealth that was designed for a more predictable era.

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Currencies · 20 April 2026

The UAE's Yuan Warning Is Not a Threat. It Is a Diagnosis.

The UAE has told Washington it may price oil in yuan if dollar swap lines are denied. The story is not the threat. It is what the threat reveals about the structure of dollar access.

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