Washington-SANA

Ellie Clifton, senior advisor at the Quincy Institute, said that reducing dependence on the US dollar represents an unstoppable rising trend, as countries around the world look to reduce their dependence on this currency.

Clifton said in an article published on the website (Science of the Times) that "one of the main motives behind the quest to reduce dollarization is Washington's use of its currency as a weapon through sanctions that cover 29 percent of the global economy and 40 percent of global oil reserves."

Clifton noted that some countries are working to reduce their U.S. dollar reserves, settle cross-border transactions in currencies other than the dollar, and explore the formation of new multilateral settlement mechanisms.

In an attempt to move away from the control of America, several countries are now using other currencies in their trade transactions with countries abroad in order to replace the US dollar, and among these countries began to rely on the Chinese yuan in their commercial transactions, in order to stay away from the control of Washington, and the Russian Central Bank considered last April that the Chinese currency is one of the important currencies that

It uses it as an alternative currency in its business transactions, especially after Russia's reserves were frozen by sanctions.

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