US dollar. File photoMOSCOW, Apr 11Weaponising the dollar could undermine the US currency and split the international financial system, the Financial Times writes. to bypass the dollar.
"By openly weaponizing the dollar in this way, the US and its allies risk provoking a retaliatory strike that could undermine the US currency and split the international financial system into competing blocks, which can worsen the situation of all parties", the article says.
The authors of the material pointed to the absence of a global coalition condemning the Russian special operation in Ukraine, emphasizing that there is only a Western bloc. This, they believe, could have important implications for the future of international finance. It is emphasized that the sanctions against Moscow were not supported by China, Brazil, South Africa and Mexico.The French economist predicted the fall of the dollar in favor of the ruble «The death of the dollar was predicted countless times in the past, but the American currency continued to hold its ground. <…> But if there is a stable retreat from the dollar in the coming years, then sanctions against the Russian Central Bank may become not a bold, new way to put pressure on an opponent, but the moment when the dominance of the dollar begins to decline, like a “financial Suez Canal,” observers concluded.Russia launched a military operation in Ukraine on February 24. In response, Western countries announced massive sanctions against Moscow, primarily in the banking sector and the supply of high-tech products.Some brands have announced the cessation of work in the country. dollar in sanctions against Russia The Kremlin called these measures an economic war like no other. stressed their readiness for such a development of events and assured that they would continue to fulfill their social obligations. The Central Bank is taking measures to stabilize the situation in the foreign exchange market. The authorities also announced the transfer of payments for gas supplies to unfriendly countries into rubles. In addition, the government has prepared a plan to counter restrictive measures, which includes about a hundred initiatives. The volume of its financing will be about a trillion rubles.