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IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar

 
Don Draper from Nantucket
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04/02/2022 03:54 PM

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IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
[link to www.zerohedge.com (secure)]


The recent financial sanctions imposed on Russia for its invasion of Ukraine are threatening to weaken the dominance of the U.S. petrodollar as the world currency, said First Deputy Managing Director Gita Gopinath of the International Monetary Fund (IMF) to The Financial Times.


The sanctions may result in a more fragmented international monetary system, warned Gopinath.

She had previously said that the sanctions against Russia would not foreshadow the demise of the dollar as the world’s reserve currency and that the Ukraine crisis would slow growth, but not cause a global recession.

The United States, the EU, and the Group of Seven nations have hit Russia with a bundle of heavy sanctions and blocked the country from using SWIFT, the global communications service that clears international financial transactions, virtually cutting it off from the global financial markets and international trade.

The United States also froze $630 billion in assets held in international reserves by the Russian Central Bank.

The Russian government is retaliating by demanding payment in rubles or gold for purchases of energy and other important commodities.

“If they want to buy, let them pay either in hard currency, and this is gold for us, or pay as it is convenient for us, this is the national currency,” said the head of Russia’s energy committee, Pavel Zavalny.

The United States and the UK have imposed embargoes on Russian energy exports, but the EU, which is more reliant on energy imports, is more reluctant to ban it.

The new policy has hit the EU the hardest, sending gas prices on the continent up by 30 percent on March 30.

Meanwhile, the ruble has since risen to a three-week high past 85 against the dollar after the Moscow Stock Exchange reopened after the initial round of sanctions.



Zavalny has suggested that buyers from countries friendly to Russia, such as China, could pay in their own fiat currencies or in Bitcoin.

Russia had been planning for years to reduce its dependence on the petrodollar since the United States imposed sanctions in retaliation for its annexation of Crimea in 2014.

The current crisis in Ukraine has only accelerated those plans.

Before the recent conflict, Russia still had roughly a fifth of its foreign reserves in dollar-denominated assets, mainly held overseas in Germany, France, the UK, and Japan, which have since sided with the United States to isolate Moscow from the global financial system.

Gopinath said that Russia’s response to the sweeping sanctions could encourage the emergence of small currency blocs based on trade between separate groups of countries and would lead to further diversification of the reserve assets held by national central banks.
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bigD111

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04/02/2022 04:25 PM

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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
They want to weaken the USA anyway, so no doubt, the sanctions will stay in place. The Biden asshats just want the USA destroyed. No doubt about it!
deplorably republican
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04/02/2022 04:30 PM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
[link to www.zerohedge.com (secure)]


The recent financial sanctions imposed on Russia for its invasion of Ukraine are threatening to weaken the dominance of the U.S. petrodollar as the world currency, said First Deputy Managing Director Gita Gopinath of the International Monetary Fund (IMF) to The Financial Times.


The sanctions may result in a more fragmented international monetary system, warned Gopinath.

She had previously said that the sanctions against Russia would not foreshadow the demise of the dollar as the world’s reserve currency and that the Ukraine crisis would slow growth, but not cause a global recession.

The United States, the EU, and the Group of Seven nations have hit Russia with a bundle of heavy sanctions and blocked the country from using SWIFT, the global communications service that clears international financial transactions, virtually cutting it off from the global financial markets and international trade.

The United States also froze $630 billion in assets held in international reserves by the Russian Central Bank.

The Russian government is retaliating by demanding payment in rubles or gold for purchases of energy and other important commodities.

“If they want to buy, let them pay either in hard currency, and this is gold for us, or pay as it is convenient for us, this is the national currency,” said the head of Russia’s energy committee, Pavel Zavalny.

The United States and the UK have imposed embargoes on Russian energy exports, but the EU, which is more reliant on energy imports, is more reluctant to ban it.

The new policy has hit the EU the hardest, sending gas prices on the continent up by 30 percent on March 30.

Meanwhile, the ruble has since risen to a three-week high past 85 against the dollar after the Moscow Stock Exchange reopened after the initial round of sanctions.



Zavalny has suggested that buyers from countries friendly to Russia, such as China, could pay in their own fiat currencies or in Bitcoin.

Russia had been planning for years to reduce its dependence on the petrodollar since the United States imposed sanctions in retaliation for its annexation of Crimea in 2014.

The current crisis in Ukraine has only accelerated those plans.

Before the recent conflict, Russia still had roughly a fifth of its foreign reserves in dollar-denominated assets, mainly held overseas in Germany, France, the UK, and Japan, which have since sided with the United States to isolate Moscow from the global financial system.

Gopinath said that Russia’s response to the sweeping sanctions could encourage the emergence of small currency blocs based on trade between separate groups of countries and would lead to further diversification of the reserve assets held by national central banks.
 Quoting: Don Draper from Nantucket


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Don Draper from Nantucket  (OP)

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04/02/2022 06:06 PM

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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
They want to weaken the USA anyway, so no doubt, the sanctions will stay in place. The Biden asshats just want the USA destroyed. No doubt about it!
 Quoting: bigD111


hesright
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Anonymous Coward
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04/02/2022 11:43 PM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
bump
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04/03/2022 12:09 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
sherlock
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04/03/2022 12:10 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
I like zerohedge, but their twitter avatar looks like a democRat faggggggot.
VampPatriot

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04/03/2022 12:25 AM

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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Funny the IMF are spreading what tards call “Putin Propaganda”. Considering the IMF is another Illuminati front like the WEF, makes you wonder if it really is all a setup
Sic Semper Tyrannis.

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Don Draper from Nantucket  (OP)

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04/03/2022 12:34 AM

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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Funny the IMF are spreading what tards call “Putin Propaganda”. Considering the IMF is another Illuminati front like the WEF, makes you wonder if it really is all a setup
 Quoting: VampPatriot


Yep the longer this whole thing goes on the more convinced I am that something is indeed fucky...


PLATA BITCHEZZZZZZ

UPGRADE UNAVAILABLE

The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
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04/03/2022 12:36 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
I like zerohedge, but their twitter avatar looks like a democRat faggggggot.
 Quoting: Anonymous Coward 82689645


clappa
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04/03/2022 12:36 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Funny the IMF are spreading what tards call “Putin Propaganda”. Considering the IMF is another Illuminati front like the WEF, makes you wonder if it really is all a setup
 Quoting: VampPatriot


Yep the longer this whole thing goes on the more convinced I am that something is indeed fucky...


 Quoting: Don Draper from Nantucket


Russia is being used to takedown the dollar
Don Draper from Nantucket  (OP)

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04/03/2022 12:41 AM

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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Funny the IMF are spreading what tards call “Putin Propaganda”. Considering the IMF is another Illuminati front like the WEF, makes you wonder if it really is all a setup
 Quoting: VampPatriot


Yep the longer this whole thing goes on the more convinced I am that something is indeed fucky...


 Quoting: Don Draper from Nantucket


Russia is being used to takedown the dollar
 Quoting: Anonymous Coward RT


Yep the worlds a stage.
PLATA BITCHEZZZZZZ

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The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
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04/03/2022 12:45 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Biden's Administration dont care about collapsing the dollar

they only care about the greater Israel Project
Anonymous Coward
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04/03/2022 12:46 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Biden's Administration dont care about collapsing the dollar

they only care about the greater Israel Project
 Quoting: Anonymous Coward 82692272


you guys understand that right? all this Russia Russia Russia bullshit is all about protecting Israel
Don Draper from Nantucket  (OP)

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04/03/2022 12:48 AM

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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Biden's Administration dont care about collapsing the dollar

they only care about the greater Israel Project
 Quoting: Anonymous Coward 82692272


you guys understand that right? all this Russia Russia Russia bullshit is all about protecting Israel
 Quoting: Anonymous Coward 82692272


DC-FiF
PLATA BITCHEZZZZZZ

UPGRADE UNAVAILABLE

The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
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04/03/2022 09:55 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Biden's Administration dont care about collapsing the dollar

they only care about the greater Israel Project
 Quoting: Anonymous Coward 82692272


you guys understand that right? all this Russia Russia Russia bullshit is all about protecting Israel
 Quoting: Anonymous Coward 82692272


You are wrong Israel is asserting its independence from DC. Israel is moving toward the Eurasian bloc with India. USA was/is a nation run by political whores. Once they lose cred on the world stage, their usefullness ends.
Anonymous Coward
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04/03/2022 11:02 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Fuck the dollar -its dead

RIP
Anonymous Coward
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04/03/2022 11:20 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Fuck the dollar -its dead

RIP
 Quoting: Anonymous Coward 82694090


Bbbuttt, buttt, but…….in gawd we trust
Anonymous Coward
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04/03/2022 11:34 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Various sources are saying that these sanctions were made hastily by political class without any consultations with financial, military or any other sharks.
Pure political tantrum act that is now costing West way more than Russia.
Actually, some damage seems to be irreversible not. And it is self-inflicted.

Genuis.

epiclol
Anonymous Coward
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04/03/2022 11:35 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
Trump is right you kno?

rofl
Anonymous Coward
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04/03/2022 11:37 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
The third worlders that run the likes of the IMF and the UN are just salivating at the prospect of the US and UK being destroyed, they can barely contain their delight.
Anonymous Coward
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04/03/2022 11:39 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
The third worlders that run the likes of the IMF and the UN are just salivating at the prospect of the US and UK being destroyed, they can barely contain their delight.
 Quoting: Anonymous Coward 82697640


Dude. That is really a retarded thing to claim..

hahah Awesome.

cruise
Anonymous Coward
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04/03/2022 11:47 AM
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Re: IMF Warns That Sanctions Against Russia Threaten To Weaken The Dominance Of The Dollar
The third worlders that run the likes of the IMF and the UN are just salivating at the prospect of the US and UK being destroyed, they can barely contain their delight.
 Quoting: Anonymous Coward 82697640


Dude. That is really a retarded thing to claim..

hahah Awesome.

cruise
 Quoting: Anonymous Coward 80635148


"Gopinath" sounds like a first world name to you?





GLP