America’s obsession with divisive political sanctions is rapidly undermining the dollar’s position as the world’s reserve currency

Economists say

Economists say among themselves, “Never hesitate to state the obvious.” Russian President Vladimir Putin has clearly taken that advice to heart by explaining to an American reporter that US sanctions are an act of self-harm.

By turning the dollar into a political instrument, he said, Washington is undermining its own currency. Far from an outsider opinion, this is a view long shared by quite a few Western experts and politicians as well.

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