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/
US President Donald Trump confirmed on Wednesday the upcoming start of ground strikes against drug cartel targets in Latin America.
He made the remarks during Christmas greetings to the military.
Trump said the United States was "now going after the land" in its fight against drug cartel targets, noting that drug trafficking by sea was down 96 percent.
The U.S. president also extended special congratulations to the crew of the aircraft carrier USS Gerald R. Ford, currently deployed in the Caribbean.
BEIJING (Sputnik) - China has begun operating the world's first intelligent ultra-large oil tanker powered by methanol, the China Central Television (CCTV) reported on Monday.
The tanker, designed to transport crude oil, was successfully put into operation in the city of Dalian in China's northeastern coastal province of Liaoning, the report said. State-owned company Dalian Shipbuilding Industry Co Ltd independently designed and built the vessel, it added.
The tanker is approximately 333 meters (1,092 feet) long and can carry around 2.1 million barrels of crude oil, the CCTV reported. Designed to produce low emissions and having intelligent control capabilities, the tanker will serve the route to the Middle East, among others, according to the report.
The vessel is powered by a dual-fuel methanol engine, which reduces carbon dioxide emissions by 92% compared to conventional fuel, the CCTV reported. It is equipped with an intelligent ship platform, an intelligent liquid cargo ...
A car bomb has killed a senior General Staff member, officials have confirmed
Source: The Investigative Committee
A Russian general has been killed in a car bomb blast in Moscow, the Investigative Committee has reported.
Officials identified the victim as Lt. Gen. Fanil Sarvarov, head of operational training at the General Staff. According to the statement, an explosive device had been planted beneath the vehicle he was traveling in, and detonated on Monday morning in the southern part of the Russian capital.
The blast also damaged several other vehicles and seriously injured Sarvarov’s driver, media reports stated.
Russian officials said one line of investigation is an assassination carried out by Ukrainian intelligence services, noting that Kiev has previously used explosive devices in targeted killings of officials and public figures.
Last December, a bomb hidden in an e-scooter killed Lt. Gen. Igor Kirillov, commander of Russia’s Nuclear, Chemical, and Biological Defense ...
