Anti-Russian sanctions will negatively affect the status of the dollar

Sanctions against Russia push the central banks of anti-Western countries to diversify foreign exchange reserves. According to Jan Peter Kranen, a professor at the Goethe University in Frankfurt am Main, central banks will begin to hide funds by hiding their identity in the financial market.

To do this, they have ways, said the professor. For example, a central bank may open a “government shell company”.

In an interview with Wirtschafts Woche, the expert suggested that the country could distribute foreign exchange reserves in the private capital market. This will make it impossible to identify the true owner, but will allow continued investment in Western projects.

“The United States uses the dollar in the conflict with Russia as a weapon. This negatively affects the status of the dollar as the world’s key reserve currency,” the professor concluded.

EAEU countries are considering abandoning settlements in US dollars, writes RIA Novosti.

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