Foreign media: abuse of sanctions and dollar hegemony by the United States to accelerate the process of "de-dollarization" the United States | US dollars | sanctions
On June 7th, the "New Arab" news website reported that since the outbreak of the Ukraine crisis in 2022 and the comprehensive sanctions imposed by the United States on Russia, the process of "de dollarization" has accelerated, and the status of the US dollar is declining.
The article states that the United States launched a comprehensive financial war against Russia, not only freezing Russia's US dollar foreign exchange reserves, but also kicking Russia out of the Global Interbank Financial Communications Association system, which became an important turning point in "de dollarization".
The article states that the risk of the United States abusing sanctions has prompted more and more southern countries around the world to seek alternative currencies to the US dollar. The question now is no longer whether the hegemony of the US dollar will end, but when it will end.
The article states that although Gulf Arab countries are not the key drivers of the "de dollarization" movement, they are also pragmatically participating in it. In the coming years, as the demand for the US dollar decreases, the strength of the United States in the world will also weaken.