"The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions," says CEO and co-CIO of Eurizon SLJ Capital.
"There is risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said, adding that implementing sanctions against Russia "does create a desire on the part of China, of Russia, of Iran to find an alternative."
The Chinese yuan has surpassed the U.S. dollar in trading volume on the Moscow Exchange due to Russia moving away from transacting in the currencies of "unfriendly" countries amidst sanctions.
The Pentagon is investigating the leak of classified American and NATO plans to bolster the Ukrainian military ahead of a planned offensive against Russian troops.
What if I told you that a very powerful man has, in his own words, been "infiltrating governments" around the world to implement a surveillance state, strip you of your property rights, and remove your freedom of speech?
Russia's banking system is largely shielded from the negative effects of the U.S. crisis due to the country's limited connections with the international financial system, says Russian press secretary.
