Sergey Lavrov Predicts Global Shift Away From US Dollar
Sergey Lavrov, the Foreign Minister of Russia, has expressed his opinion regarding the status of the American dollar as the leading global currency.
Lavrov has stated that a worldwide shift in currency is impending, which would bring about a significant transformation in the international financial scene. Lavrov asserts that the shift towards national and digital currencies is inevitable and will bypass the euro and yen.
Recent events in China and Russia provide evidence to support Lavrov’s assertions. It was reported that the Chinese yuan has surpassed the US dollar as China’s most frequently utilized currency for cross-border transactions.
Bloomberg likewise reports that the yuan has eclipsed the dollar as the most traded currency in Russia.
Chinese financial institutions have observed a considerable surge in cross-border transactions utilizing the yuan, owing to thriving trade with Russia and increasingly robust relationships with the Middle East.
Lavrov has indicated that de-dollarization has already commenced in the US, which has raised serious concerns among American political analysts and economists.
He believes adopting national and digital currencies for settlements is inevitable and cannot be halted. The future of the international monetary system, including major institutions like the IMF and the World Bank, remains uncertain.
Although the ramifications of this substantial shift away from the dollar are uncertain, Lavrov is convinced that it will happen, regardless of any preventive measures taken by the US.