US sanctions against Russia and other countries seriously undermine the dollar's position as the world's main reserve currency. On Monday, February 8, Izvestia writes about this , citing a review of the research service of the United States Congress.
- The "educational" playfulness of the United States causes a boomerang effect and hits the American currency itself. The countries against which the US sanctions are directed have all the tools to reduce their dependence on the dollar, the study says.
It is noted that the US sanctions lead to economic costs for the States themselves, since they significantly restrict doing business. The American side increasingly began to use the dollar to achieve foreign policy goals. As a result, the transition of countries against which the United States imposed economic sanctions to settlements in alternative currencies will negatively affect the American economy and undermine the role of the dollar.
Congress experts noted that just 30-40 years ago, the use of the dollar was ubiquitous - it was this currency that accounted for more than 70 percent of all transactions. Currently, the share of the dollar is declining and has already crossed the 50 percent bar.
Let us remind you that in January the European Commission prepared a preliminary plan to further reduce the dependence on the American currency.
As the site kp.ru wrote earlier, most currencies are currently weakening. Analysts warn that this even applies to “safe haven” currencies, for example, the Japanese yen and the Swiss franc, as well as the dollar, so it is better to refuse to buy these currencies in 2021 . At the same time, the ruble and the Chinese yuan have good chances of strengthening this year.