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Monday, June 10, 2024
HomeCryptoBRICS: Fed admits sanctions lead to de-dollarization

BRICS: Fed admits sanctions lead to de-dollarization

In its latest update, the US Fed admitted that sanctions imposed on Russia in 2022 have led to increased de-dollarization.

Sanctions lead to de-dollarization, US Fed says

US Fed Governor Christopher Waller admitted that the White House’s imposition of sanctions on developing countries prompted BRICS to launch a de-dollarization agenda.

US Fed Governor Christopher Waller said: “If these sanctions and policies persist, the changing cross-border payments landscape, including the rapid growth of digital currencies, will also could pose a challenge to the dominance of the US dollar.”

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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