MOSCOW, July 13. Anti-Russian sanctions have led to the dollar becoming less attractive as a world currency, Asia Times reports, citing the forecast of US Treasury Secretary Janet Yellen.
«Exceptional measures by the United States and its allies against Russia have confused major reserve-holding countries,” the publication quotes her as saying.
She also acknowledged that while the Global South cannot completely abandon the dollar, much of it is no longer willing to work with it. The reason for this is, to a certain extent, the BRICS policy of weakening the American currency, the minister added.
According to the author of the article, the decision of the team of the head of the White House Joe Biden to freeze part of the Russian currency reserves was akin to crossing a red line for many large investors.
The current situation suggests that Yellen was not without reason afraid of de-dollarization — the process has already been launched, AT concludes.
Earlier, Alexey Mozhin, the executive director from Russia at the International Monetary Fund, said that in the event of the collapse of the dollar and the international monetary system, BRICS can offer an alternative, including a real currency backed by exchange goods.