Will the Ukraine crisis break the dollar’s grip on world trade? ...Middle East

Russia’s invasion of Ukraine and the economic warfare that followed have reopened the question of whether the dollar’s trade dominance is drawing to an end. What would it take for global commerce to take place outside the US financial system, upending the status quo that has governed it for much of the last century?That moment has been anticipated for decades, with the euro and the yuan put forward as potential successors to the dollar. The traditional argument has been that as these rival economies grow larger than the US, their financial gravity will lead them to gradually usurp the role of the American financial system. By and large, that hasn’t happened since the euro went into use in 19

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