Countries cannot rely on the currency of a nation with multi-trillion-dollar debt, Sergey Shoigu has said
Washington’s abuse of the dollar is a major selling point for BRICS, which is fostering the transition to a multipolar world order, Russian Security Council Secretary Sergey Shoigu has said.
America’s control over the global reserve currency and the financial system based on the dollar has increasingly been unnerving other nations, as the US government has leveraged it to damage other countries with sanctions and asset seizures, he claimed.
”It is [now] obvious for everyone that whatever savings they have may end up in someone else’s pocket rather than their own,” Shoigu said in an interview published by Russian media on Tuesday.
Governments therefore “realize that they need to go away from the US-dependent financial system. There is a need for a structure that would not be so monopolized and dependent on US domestic laws,” he added. The current system “cannot stand.”
Russia was targeted by the US over the Ukraine crisis, when some $300 billion worth of its sovereign assets held in Western jurisdictions was frozen. This instance alone shows that “the world should move away from the dollar,” Shoigu said, but it is just one of many.
He cited the seizure of Libyan funds during the NATO military intervention to oust Muammar Gaddafi in 2011. There is also ongoing exploitation of Syrian oil reserves by shady US-linked firms in Kurdish-controlled areas of the country, Shoigu said. Those firms sell “stolen” crude, while Damascus is starved for fuel due to American sanctions, he continued, adding that Western nations are “occasionally acting like vulgar thieves.”
The US federal debt, which surpassed $35 trillion earlier this year, is another reason to worry about the reliability of international finances, Shoigu claimed. Such problems push more nations into seeking BRICS membership, he said, because “here we don’t have some hegemonic power towering over everyone and dictating terms, as this happens in the EU and NATO.”
READ MORE: Washington wants Ukraine’s resources – US Senator
Shoigu also suggested that the excessive global role of the US is detrimental for policy making by other nations. Foreign governments have to tailor their decisions to projected outcomes of US presidential elections and occasionally have to turn on a dime, when some surprise happens, such as Donald Trump’s victory in 2016, he explained.
https://www.rt.com/russia/603758-us-monopoly-global-finances/
Volker Turk has warned that efforts to advance reparatory justice are facing resistance in “certain quarters,” and urged countries to back Africa’s push.
Reparatory justice for historical crimes, including colonialism, enslavement, and the trade in enslaved Africans, is crucial to dismantling systemic racism, UN High Commissioner for Human Rights Volker Turk has said.
Speaking at the UN Permanent Forum on People of African Descent on Tuesday, Turk linked present-day discrimination against people from the continent to the enduring legacy of colonialism and enslavement.
”Racism and dehumanizing rhetoric continue to permeate public institutions, communities, and online platforms,” he said, according to the UN Press Service. Turk noted that “digital technologies, including AI, are reproducing and amplifying existing biases against people of African descent.”
The remarks come weeks after the UN General Assembly adopted a resolution declaring the transatlantic slave trade “the gravest...
The US VP had to defend President Trump’s Gaza policy at a rally on a Georgia college campus.
US Vice President J.D. Vance was forced to defend Washington’s policy in Gaza after he was booed and heckled at a key MAGA event on Wednesday.
Co-founded by the late Charlie Kirk, Turning Point USA (TPUSA) is a conservative student group that has long been seen as a strong support base of President Donald Trump’s MAGA movement but is now showing apparent cracks.
Less than 15 minutes into a TPUSA event at the University of Georgia on Wednesday, Vance was interrupted by hecklers over US policy in Gaza, with one audience member shouting, “Jesus Christ does not support genocide!” As he attempted to respond, others shouted, “You’re killing children!” and “You’re bombing children!”
Vance replied by referring to Trump’s achievements as president, including securing a fragile ceasefire in Gaza, something he said the previous administration of Joe Biden failed to do.
“I ...
Sergey Shoigu has cautioned Finland and the Baltic states against allowing Kiev to use their airspace for attacks on Russia.
Russia would have the right to retaliate if Finland and the Baltic states are deliberately allowing Ukrainian drones to pass through their airspace, Security Council Secretary Sergey Shoigu said on Thursday.
“Recently, there has been an increase in Ukrainian drone strikes against Russia via Finland, Lithuania, Latvia, and Estonia,” Shoigu told journalists. “As a result, civilians are suffering and significant damage is being caused to civilian infrastructure.”
Either Western air defenses are proving ineffective, or these four countries “deliberately provide their airspace, thereby becoming open accomplices in aggression against Russia,” he added. In the latter case, Moscow has the right to self-defense in response to an “armed attack” under Article 51 of the UN Charter, the security chief stressed.
In recent weeks, Kiev has intensified drone strikes on ...
