Reuters
An official in the Russian Central Bank considered that the dollar falls victim to Washington’s sanctions policy, as these policies force global players to abandon the US currency and switch to national currencies in trade.
“The effective use of the sanctions regime by the US administration in recent years is seriously undermining the reliability of the dollar as a means of savings and payments,” Alexei Zapotkin, deputy chairman of the Board of Directors of the Russian Central Bank, said today.
The official indicated that this will lead to a decrease in the use of the US currency over the years. He added that more countries prefer national currencies to trade under the US sanctions policy.
Russia has been working for years to increase reserves of other currencies and gold at the expense of dollar reserves. It also calls on its trading partners to move away from the dollar in financial settlements due to the US sanctions approach and the high US government debt to record levels.
Source: RT
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