Sanctions may backfire on dollar, US Treasury secretary admits ...News

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Sanctions may backfire on dollar, US Treasury secretary admits
Janet Yellen was asked by CNN what reaction ‘weaponization’ of the dollar may trigger globally The role of the US dollar as the world reserve currency may actually diminish due to the US using its leverage on the global financial system to pursue its geopolitical goals through sanctions, Secretary of the Treasury Janet Yellen has admitted. However, no other currency is ready to replace it, she reckoned. Yellen was asked during an interview on Sunday by CNN’s Fareed Zakaria about the efficiency of the anti-Russia sanctions and about Washington’s history of what he described as the “weaponization of the dollar.” Zak

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