The U.S. plan to impose sanctions on every country that disagrees with the U.S. Government’s attempt to impose political and economic hegemony on allies and enemies alike has been back-firing. If anything, it’s driving countries away from using the dollar in their trading activities.
The latest example of this is the Bank of Japan’s disclosure that it’s going to start engaging in Ruble-Yen currency swaps with Russia in order to avoid using the dollar to settle bilateral trade with Russia:
Japan Bank for International Cooperation (JBIC) is turning to currency swaps as using the US dollar in transactions is difficult because of the Western anti-Russia sanctions, the bank’s senior managing director said answering a question from Sputnik. LINK
It won’t be long before the U.S. dollar shows up on the “endangered species” list…