US short-sighted sanctions hurt and undermine dollar

US’ short-sighted sanctions ‘hurt’ and undermine dollar “Because of sanctions, the dollar actually ends up getting hurt, because people are going to be a little bit [more] reluctant to use the dollar if there are threats of sanctions. Countries have to adapt and they have to figure out ways to do cross-border trade and financial transactions that don’t rely on the US dollar,” veteran Asia-Pacific affairs expert and author Thomas W. Pauken II told Sputnik, commenting on President Putin’s visit to China, where the issue of decoupling from the dollar for trade is an important topic of discussion. Pauken expects more countries to join the effort to decouple from the greenback using new financial mechanisms, but says it’s going to take time, perhaps “another three to five years for countries to adapt to the new ways of trading without the US dollar.“ Subscribe to [club80289214|@SputnikInt] Source: Sputnik International