KREMLIN: Asia and Europe are Moving Away from the U.S Dollar


More countries in Asia and Europe are looking for alternatives to the US dollar in the face of declining confidence in Washington, Kremlin spokesman Dmitry Peskov said on Sunday.

“Suddenly, the US dollar-issuing country is starting to take steps that are shaking confidence in its currency. More and more countries, not only in the East but also in Europe, are beginning to relieve their dependency they have on the US dollar, they suddenly realize: A. it is possible, B. should be done, and C. save yourself if you can, this should be done as soon as possible,” Peskov told the Russian television channel Rossiya 1.

The spokesman, however, noted that “it is not so easy to replace the [current] system”with a new one, emphasizing that the tendency to seek an alternative to the dollar is evident.

The idea of ​​gradual replacement of national currencies in bilateral transactions has recently gained relevance due to US restrictions on countries such as Russia and Iran, as well as other subsequent secondary sanctions.

This comes as the US continues its aggression all throughout the globe through economic means. This includes sanctions on Russia, China, Venezuela, Turkey and Iran to name but a very few.

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The EU has been hit with a ‘trade war’ as well. War hawks in the US believe that this behaviour will make states compliant to their imperialist demands, rather it has had the opposite desired outcome as states are now moving forward in liberating themselves from the US dollar monopoly. This includes through means such as trading in rubles or yuan, trading in local currencies, or establishing their own crypto currencies.

In other cases, such as Turkey, it has turned a pro-US state that is a critical part of NATO, to become increasingly closer with NATO target Russia. This has culminated with Turkey wanting to buy weapons from Russia rather than NATO states such as the US and France.

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