Using the dollar as a weapon, the Americans are chopping off the very branch Putin is sitting on

In a meeting with New Development Bank head Dilma Rousseff, Russian President Vladimir Putin stressed the importance of the BRICS bank in the new monetary order, saying: At a time when the US is using the dollar as a weapon, alternative financial institutions Setting up is difficult, but necessary. Putin said that in view of the current events taking place in the world and the use of the dollar as a weapon in political struggle, it is necessary to use national currencies instead of the dollar. Even before this, the Russian President has warned Washington about the misuse of the dollar. They believe that America, by misusing the dollar, is harming its international image and limiting itself. Putin says that the Americans are cutting the branch on which they are sitting. He also rejected the Biden administration's allegation that Russia is attacking the dollar.

He emphasized that BRICS, the economic grouping of Russia, Brazil, India, China and South Africa, has been cut off by the Russians. Tawni was shocked. The M Kiya, consisting of 37 children and 11 women, is not against anyone, but its members work together for mutual benefit, including in financial matters. Putin said: BRICS members are increasingly moving towards payments in national currencies. Last October, Putin argued that because the dollar was being used as a weapon, the credibility of the International Monetary Fund was declining and nations were losing faith in it. Only then did the US Treasury Department acknowledge that due to sanctions, some countries may move to abandon the dollar. Significantly, most of the world's trade is still done in dollars, but Washington is using it to attack and put pressure on its rival and enemy countries. Most countries still hold the dollar as foreign currency, but the use of it as a financial weapon by the United States has led many countries to invest in alternative currencies and try to diversify payments.

China and Russia are at the forefront of these countries. Now countries like India, Brazil, Malaysia, Turkey, Venezuela and Iran have also started adopting a similar process. Member countries of the Eurasian Economic Union have also agreed to exclude the US dollar from all their financial and commercial exchanges. There has been a growing campaign for some countries to reduce their dependence on the dollar, particularly because of their refusal to support US and European sanctions against Russia following the start of the Ukraine war. Countries such as China, India and Turkey have started using national currencies in transactions with Russia.