Is Kuwait really withdrawing assets from US and UK banks following UAE, Saudi Arabia? Fact Check
Claim: Kuwait plans on withdrawing assets from British and American banks following the UAE and Saudi Arabia.
Conclusion: The claim is false. No official confirmation exists from Kuwaiti authorities, and similar assertions about the UAE and Saudi Arabia lack credible verification. While Gulf states face economic pressures from the 2026 Iran conflict, there has been no news about withdrawing assets from British or American banks.
Rating: False 
Several social media users have claimed that Kuwait plans on withdrawing assets from British and American banks. Verified X user ‘GBX_Press’ shared such a post with the caption : “JUST IN: Following the United Arab Emirates and Saudi Arabia, Kuwait also plans to withdraw its assets from British and American banks.” The post gained more than 1.3 million views and can be seen below –
🚨 JUST IN:
Following the United Arab Emirates and Saudi Arabia, Kuwait also plans to withdraw its assets from British and American banks. pic.twitter.com/lot3DvC1tl
— GBX (@GBX_Press) June 2, 2026
Other users have shared similar claims that can be seen here and here
FACT CHECK
DigitEYE India decided to investigate this claim and found it to be false. No official statement from Kuwaiti authorities supports this claim and comparable allegations involving the UAE and Saudi Arabia remain unsubstantiated. While the 2026 Iran conflict has placed economic pressure on Gulf economies, there have been no credible reports of these countries withdrawing assets from British or American banks.
Details:
We first conducted a web search to confirm whether Saudi Arabia and the UAE has really withdrawn assets from American and British banks. A report stated that following the UAE, Saudi Arabia plans to withdraw assets from American and British banks. However, that report is insubstantial and does not provide any credible source or evidence. Saudi Arabia has not withdrawn assets and no report from credible media outlets seems to suggest otherwise.
Next, we searched whether the UAE has withdrawn assets from American and British banks. We did not find any credible information suggesting such a move rather learnt that the UAE is discussing a currency swap line with the US. According to a Reuters report published on May 4, 2026, UAE Trade Minister Thani Al Zeyoudi said such arrangements are reserved for an “elite group” of countries.
Al Zeyoudi emphasized that the proposal is “not about bailing out” economies but about supporting growing trade and investment ties. The report explains that currency swap lines “between central banks allow each institution to obtain the other’s currency without resorting to foreign exchange markets, reducing transaction costs and exchange-rate risk for cross-border trade and investment.” View a section from the report below –
Searches of Kuwait withdrawing assets from US and UK banks did not yield any credible reports. According to a Bloomberg report published on July 8, 2025, Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, sold a $3.1 billion stake in Bank of America. However, this transaction is a reduction in a specific holding rather than a broader withdrawal from US banks. View a section from the report below –
Lastly, we read a Forbes article published on March 7, 2026 that notes that Gulf sovereign wealth funds invest “about $2 trillion in the U.S, which is over 35% of their total assets under management”. It argues that their greater leverage lies in “threatening not to buy” additional assets rather than rapidly selling existing holdings. This report discusses potential risks arising from the Iran war and not Kuwait selling its assets from the US and UK banks. View a section from the report below –
Thus, the claim is false.
