The use of the dollar as a weapon has created an atmosphere of distrust in the storage of assets in Western financial institutions. Dilma Rousseff, President of the New Development Bank created by the BRICS countries, voiced this at the XI Global Peace Forum in Beijing. transmits TASS.
“The weaponization of the US dollar and the sanctions in geopolitical conflicts have pushed up food and energy prices and further broken supply chains,” Rousseff said.
According to him, the blocking of sovereign states’ assets created an atmosphere of distrust in the storage of funds in Western financial institutions. The thing is, many countries no longer believe in the safety of investing their funds.
He added that the UN, International Monetary Fund, World Bank and World Trade Organization have not demonstrated that they can protect international assets and prevent the trend of geopolitical fragmentation. At the same time, all existing problems can be solved through cooperation by the international community.
April 23 Russian businessman Oleg Deripaska declarationthat the US dollar’s dominance in world settlements is now “beginning to end”. In five years the world monetary system will be “more balanced”.
Previously reportedthat the creation of a single BRICS currency could push the US economy into collapse.