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 use of the dollar, most of it is no longer willing to work with it. The reason for this, to a certain extent, is the policy pursued by BRICS to weaken the American currency, the minister added.
According to the author of the article, the decision of the team of White House head Joe Biden to freeze part of Russian foreign exchange reserves was akin to crossing the red line. 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, concludes AT.
Previously, the executive director for Russia at the International Monetary Fund, Alexey Mozhin, said that in the event of a collapse of the dollar and the international monetary system, BRICS can offer an alternative, including real currency backed by exchange commodities.