2023-05-27 19:17:00
The death knell for the dollar seems to have sounded. More and more countries want to reduce their dependence on the US currency, Iranian Vice President Mohammad Mokhber told the annual meeting of the Asian Clearing Union (ACU).
A logical phenomenon, because the United States has “militarized” its greenback, using its hegemony to sanction countries that disagree with it as it sees fit, the official explained.
“Dedollarization is no longer a voluntary choice of countries, but an inevitable response to the project of militarization of the dollar,” he said, according to a press release from the vice-presidency.
In this regard, the official returned to the disconnection of Iran and Russia from the international SWIFT network, acted upon by the West.
The United States themselves are aware that their policy of sanctions has repercussions on the dollar, Mohammad Mokhber again recalled. In mid-April, US Treasury Secretary Janet Yellen admitted that the sanctions imposed on Russia presented “a risk” for the greenback that could undermine the hegemony of the dollar.
In Venezuela, President Nicolas Maduro has declared that this phenomenon was significant and was only accelerating.
The abandonment of the dollar passes in particular by the multiplication of the exchanges in national currency. China thus trades more and more in yuan, including in the field of energy, reign of the traditional “petrodollar”. At the end of March, Beijing had thus bought 65,000 tons of LNG (liquefied natural gas) in the United Arab Emirates by paying in yuan, a great first on the international scene.
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