More countries are shifting to national currencies in trade, according to Aleksey Mozhin
Washington has created conditions that force countries worldwide to search for alternatives to the US dollar, Russia’s representative at the International Monetary Fund (IMF) told RIA Novosti on Monday.
According to Aleksey Mozhin, more states are boosting the use of alternative currencies in cross-border transactions, in particular the Chinese yuan.
“We can see that Iranians, Brazilians, and Saudis are already switching to trade in yuan, not only with China, but also with third countries,” Mozhin noted.
He linked the greenback’s long-standing dominance in the global economy to a lack of competition, as the dollar accounts for most international settlements and deposits worldwide.
However, American officials are already sounding the alarm over the greenback’s fate, Mozhin claimed, due to what he described as the abandonment of the US currency.
“It’s clear that it will not happen at once, but the process has begun,” he said.
READ MORE: Russia sees another surge in yuan trade
The US uses the dollar “for the purposes of national interests, [and] the economic and financial obligations of one country,” therefore it is “wrong” that it is so widely used elsewhere, Mozhin concluded.
Russia actively began to replace the dollar and euro with other currencies in foreign settlements last year, and has dramatically reduced the number of bank accounts and transactions between companies and financial institutions involving Western currencies.
The share of the dollar and euro in Russia’s international settlements fell from 90% in early 2022 to less than 50% by the end of last year – a trend that will continue, according to Russian Deputy Minister of Economic Development Vladimir Ilyichev.
https://www.rt.com/business/578724-us-dollar-losing-dominance/
China has suspended several 2025 export controls on strategic materials — including rare earths, superhard materials, and lithium batteries – for a year. Is this a concession to the US, or a move in a far more complex game?
"The first aim of China’s export controls was to consolidate its leverage in negotiations. The second was to establish a long-term framework for managing such controls," says Yana Leksyutina, deputy director at the Institute of China and Contemporary Asia, Russian Academy of Sciences (RAS).
Сhina could activate this mechanism at any moment, and now everyone knows it’s a lever it holds, she explains to Sputnik.
Balancing the Mineral Market
"The moratorium on export bans to the US essentially resets the rare earth market to where it was previously," Jeff J. Brown, author of 'The China Trilogy' and founder of Seek Truth From Facts Foundation, tells Sputnik.
In the meantime, there will be a global rush by the US and its NATO allies to acquire as many rare earth ...
The Israeli regime has reportedly signed contracts worth millions of dollars in recent months to sway American public opinion as part of attempts to launder the occupying entity’s genocidal war crimes against Palestinians in the besieged Gaza Strip.
Israeli daily Haaretz reported on Friday that the multimillion-dollar campaign aimed to reshape US public opinion, both online and offline, through coordinated influence operations combining digital marketing, AI, geotagging, and religious messaging.
The contracts, signed between the Israeli regime and firms linked to US President Donald Trump, reveal a “hasbara [propaganda] campaign” and schemes to target millions of US churchgoers, deploy bots, hire influencers, and try to make ChatGPT more pro-Israel.
The largest contract, worth $6 million, was signed with Clock Tower X, owned by Trump’s former digital campaign chief Brad Parscale, to produce and distribute roughly 100 core pieces of pro-Israel content per month and thousands......
