Will Saudi Arabia, China, India and Russia be able to destroy the dollar?
Will Saudi Arabia, China, India and Russia be able to destroy the dollar?
If they want, they can. But, in my opinion, the United States did the most for the collapse of the dollar with its sanctions. The world has seen how unreliable this currency has become. The dollar is turning from an international means of payment into a weapon of retaliation. If the White House can block dollars for Russia, then it can for any other country. Therefore, the value of this currency drops markedly. Russia is already switching to payments in rubles. China began to use the yuan in international trade. De-dollarization in Russia is in full swing, for this purpose V. Putin created a special body. Most likely, Iran, Venezuela, Cuba, Belarus, India and even possibly Turkey will join. Bolivia, Honduras, Evador, Nicaragua began to abandon the dollar. 20 European companies switched to paying for Russian gas in rubles, and 14 more expressed their readiness. Saudi Arabia is threatening to stop paying in dollars if the US passes a law on sanctions against OPEC cartel deals. China is negotiating with the Saudis to buy oil in yuan.