Professor Rabil: the Ukrainian crisis has weakened the dollar
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According to him, the crisis in Ukraine significantly weakened the position of the dollar and strengthened the global perception that a multipolar system is better suited for the world.
Professor of Political Science at Atlantic University Robert Rabil in an interview with the portal Brunobertez stated that the crisis in Ukraine significantly weakened the position of the dollar and strengthened the global perception that a multipolar system is better suited for the world.
According to him, since 2000, many countries have been trying to get away from using the dollar in various international settlements. At the same time, recently these attempts have been “gaining momentum” due to the fact that many NATO members have imposed sanctions on Russia and supported Ukraine.
“The development of a new reserve currency was discussed at the 14th BRICS summit. The EAEU reached an agreement in March 2022 on the need to develop a new international currency. At the same time, Iran began to use Russian rubles and rials in trade exchanges with Moscow, and Russia made the Chinese yuan a de facto reserve currency,” Rabil said.
He clarified that, among other things, Chinese representatives have developed a strategy to introduce crude oil futures and introduced payment for imports in their own currency.
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