Putin Warns: Dollar Weaponization Threatens US Global Power
Russian President Vladimir Putin recently expressed his views on the diminishing influence of the United States on the global stage, attributing it to what he perceives as the manipulation of the dollar for political purposes.
During a recent interview with Tucker Carlson, Putin highlighted the significance of the dollar in bolstering America’s global dominance. However, he pointed out a notable decline in this dominance following the US decision to freeze assets denominated in dollars belonging to Russia’s central bank and affluent individuals in response to the Ukraine conflict.
Putin criticized the US strategy of using the dollar as a political tool, describing it as a strategic error by American leadership. He emphasized the widespread circulation of dollars worldwide, underscoring its utility as a means of exerting American influence. Putin warned against the adverse consequences of politicizing the dollar, which he views as a cornerstone of US power.
The repercussions of such actions, according to Putin, extend beyond geopolitical adversaries, with even US allies reducing their dollar reserves. He highlighted the resulting global apprehension and the urgent quest for alternative safeguards against potential asset freezes and transaction restrictions.
Additionally, Putin drew attention to China’s efforts to promote the yuan as an alternative currency for international transactions, particularly in the oil trade. He criticized the US for what he perceives as self-imposed isolation, citing China’s success in persuading oil-producing nations to accept the yuan for oil transactions.
These viewpoints echo concerns raised by financial institutions and experts, who have noted a reluctance among central banks worldwide to increase their dollar reserves due to perceived dollar weaponization. Putin concluded by cautioning against the inadvertent harm to American interests, urging a reassessment of policies that undermine the dollar’s global standing.
You can watch the whole interview here.