MOSCOW, July 22 US economic sanctions against Russia are unlikely will be removed even if Donald Trump wins the presidential election — besides, having become head of state, he will certainly return trade wars to the world agenda, said Ksenia Bondarenko, associate professor of the Department of World Economy at the Faculty of World Economy and International Politics at the National Research University Higher School of Economics.
US President Joe Biden announced yesterday that he will not fight for re-election to a second term from the Democratic Party. The head of state said he supports Vice President Kamala Harris as the party's candidate and called on Democrats to «unite and defeat Trump.»
«If Trump wins, it is unlikely that sanctions will be lifted, and trade wars will most likely return to the international agenda. Therefore, most likely, the processes of de-dollarization will continue slowly but surely,» the expert believes.
Issues of sanctions remain a factor reducing confidence in the dollar, and they, most likely, will continue to be extended, Bondarenko concluded.
The number of countries in the world in favor of de-dollarization, according to data, exceeded 40%. But despite the fact that more and more representatives of the world community are becoming on the rails of dedollarization, the US national currency continues to play a significant role. Thus, according to the latest data from the largest interbank settlement system SWIFT, the “American” still accounts for the majority of settlements through it.
The dollar continues to remain the key reserve currency: according to the latest data from the International Monetary Fund, countries around the world kept 58.85% of their savings in this currency. However, this figure is not at the highest levels — 10 years ago it was slightly higher (63.04%).