Sanctions on Russia and the boomerang effect on the dollar

WASHINGTON - The abuse of sanctions by the United States, particularly against Russia, is reportedly leading to a drop in confidence in the dollar and a weakening of its position as the primary payment and reserve currency worldwide. New York Post columnist Jay Newman is sure of it. According to Newman, the link between sanctions and the weakening of the dollar would soon be explained: more than 100 nations in the world, i.e. more than half of the world's large nations, do not adhere to the anti-Russian sanctions at all and continue to do good business with Moscow which, in turn, it is precisely from the West that it is forced to carry out transactions not in dollars. As a result, the habit of using local currencies to settle scores is evolving, with a consequent decline in the role of the dollar. Furthermore, Newman explains that for some time many countries have wanted to free themselves from the use of the dollar and its financial system, which represents a real economic weapon, and the sanctions have given the opportunity to demonstrate that doing without the dollar is possible.