State Duma Speaker Vyacheslav Volodin believes that the United States has lost its economic leadership. Other states, in his opinion, will more actively abandon the dollar as the world’s reserve currency.
“All attempts to regain it (economic leadership – ed.) by unleashing armed conflicts, trade and sanctions wars, organising terrorist attacks, destroying Europe’s economy have not brought results,” Vyacheslav Volodin wrote in his Telegram channel.
Volodin is sure that the US realises the ineffectiveness of anti-Russian sanctions and now threatens to disconnect from its financial system banks that it considers violators. But, obviously, such measures only undermine confidence in Washington, the Duma speaker said.
He recalled that Russia is switching to settlements in national currencies with other states. If at the beginning of 2022 the share of currencies of unfriendly countries reached 96 per cent, now it has fallen to 24 per cent.
“Other states, ensuring their financial security, will now more actively abandon the dollar as the world’s reserve currency. The process is gaining momentum,” the politician summarised.
Recall, earlier Federalist magazine reported that the US federal budget over the past year doubled and reached two trillion dollars. The author of the article noted that soon interest payments will become the main item of expenditure in the United States.