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/
The Islamic Revolution Guards Corps’ (IRGC) Intelligence Unit says Iran will consider the Israeli regime’s shelters “legitimate targets” if residential areas in the country come under attack.
In a post published on social media platform X on Tuesday, the IRGC said that any strikes on residential areas in Iran would give Iran’s armed forces the right to attack Israeli shelters in the occupied lands.
The IRGC stated that it has intelligence on the blueprints and the exact locations of these shelters.
Iran began its Operation True Promise 4 after the US and Israel launched their joint military aggression against the Islamic Republic in late February by assassinating Leader of the Islamic Revolution, Ayatollah Sayyed Ali Khamenei, and several senior Iranian officials.
In its latest wave of attacks, the IRGC said it rained down missiles on the Israeli regime’s “secure” intelligence facilities in Tel Aviv.
Iranian armed forces have also pounded American military bases and ...
In a fresh wave of retaliatory strikes, the Islamic Revolution Guards Corps (IRGC) targeted the Israeli regime’s “secure” intelligence facilities in Tel Aviv.
The IRGC’s Public Relations Department said in a statement on Tuesday that it had carried out the 79th wave of its ongoing retaliatory Operation True Promise 4 against the Israeli and American targets.
Deploying powerful Kheybar Shekan, Emad, and Sejjil missiles alongside IRGC Aerospace Force kamikaze drones, the operation successfully breached the regime's multi-layered air defense systems, the statement said.
The missiles, it stated, targeted Israel’s intelligence facilities in northern and central Tel Aviv, as well as military commercial and support centers in Ramat Gan and the Negev.
The missiles also hit Israel’s southern military logistics and command headquarters in Beersheba.
The missile strikes triggered widespread panic across Israel and forced the suspension of a Knesset (parliament) session on Tuesday.
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The Islamic Revolution Guards Corps (IRGC) announces staging the 78th wave of its underway retaliatory Operation True Promise 4, targeting such highly sensitive Israeli targets as Dimona, Tel Aviv, and Eilat as well as several US military bases in the region.
In a statement on Tuesday, the IRGC described the latest phase of the operation as a significant development featuring missiles raining down on enemy targets as the nation was leveling momentous support behind the Islamic Republic by attending millions-strong rallies with "clenched fists."
'A distinct record'
The latest phase, it noted, "has set a distinct record in the timeline of the war."
According to the statement, targets in the occupied port of Eilat, Dimona, a heavily fortified city that hosts the Israeli regime's notorious nuclear reactor in its vicinity, and northern Tel Aviv were struck using Emad and multi-warhead Qadr missile systems along with attack drones.
This was the second time the Corps was hitting Dimona, ...
