The US dollar has constantly been touted as an active force spurring its own demise. One of the recent statements made by Rosneft CEO Igor Sechin has caught the public eye, where the CEO was noted making comments reflecting on the dollar’s declining prestige and the fact that its usage as a sanctioning tool has helped alternate currencies gain incredible market momentum.
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Sanctions Made Dollar Weak
The CEO of Rosneft, Russia’s biggest oil firm, was recently documented attending the Doha Forum, where Sechin made statements regarding the declining US dollar stats. The Rosneft CEO primarily touted the dollar’s keen usage as a sanctioning tool as the primary reason for its doom, adding how its consistent use as a sanctioning tool has compelled other countries to search for able and competent currency competitors. In this wake, currencies like the Chinese Yuan have gained significant traction per Sechin, with the US dollar taking a hit in the middle.
“The abuse of sanctions and the use of the dollar as a sanctions tool limited its application scope in international trade. And provoked the search for alternatives, which became national currencies, primarily the yuan.” Sechin said at the Doha Forum (as mentioned in Dajji Times).
With regards to the US economic restructuring, Sechin shared how a new financial era might soon emerge under Trump’s regime.
“According to Zoltan Pozsar, a well-known American analyst, the United States may try to impose a new financial system on the world. Threatening to impose total duties on all imports. It involves converting the entire US state debt into Treasury bonds with a maturity in a hundred years. And an interest rate far below today’s parameters,” he shared.
Sechin was quick to comment on Dollar’s revaluation techniques, adding how its mainstream identity as a sanctioning tool needs to tone down for it to become a leading currency force again.
“The only way to restore the dollar to its status as the world’s currency is to stop using it and its conductive financial infrastructure as a sanctions tool,” Rosneft’s CEO later shared.
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Currency Revival Techniques by Trump
Donald Trump, the current president-elect, is all set to assume the official presidency on January 20. Trump’s term is predicted to be full of new policy changes. These may usher in a new era for the USD. The fact that Trump has urged BRICS nations to back off while issuing a 100% tariff threat speaks volumes about how serious he is when it comes to protecting the US dollar’s prestige.
“The idea that the BRICS countries are trying to move away from the dollar. While we stand by and watch is OVER. We require a commitment from these countries that they will neither create a new BRICS currency. Nor back any other currency to replace the mighty U.S. dollar, or they will face 100% tariffs. And should expect to say goodbye to selling into the wonderful U.S. economy. They can go find another “sucker. There is no chance that the BRICS will replace the U.S. dollar in international trade. And any country that tries should wave goodbye to America.” Trump reiterated.
Soon after the issuance of the aforementioned threats, India came forward to clarify her stance. The nation stated how de-dollarization was never an agenda that they ever mulled over in the long haul.
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“India has never been for de-dollarization. Right now there is no proposal to have a BRICS currency.“ India’s Jaishankar clarified in the Doha Forum, Qatar.
