Unprecedented Sanctions Against Russia Could End Dollar's Dominance in the World: Jacobin

Jacobin publication writer Branko Marcetic asserts that U.S. President Joe Biden's unprecedented sanctions policy against Russia could disrupt the global dominance of the dollar. This was reported by RIA Novosti.

According to Marcetic, such concerns span from the IMF to Goldman Sachs investment bank. The journalist argues that the U.S. administration's decision to implement restrictive measures against Moscow could become a strategic blunder for Washington.

The publication notes that the U.S. might lose the privilege that has allowed them to conduct more imports than exports without risking a drop in exchange rates or rising interest rates.