Sanctions may backfire on dollar, US Treasury secretary admits

The role of

Janet Yellen was asked by CNN what reaction ‘weaponization’ of the greenback may trigger globally.

The role of the US dollar as the world reserve currency could diminish due to Washington using its leverage over the global financial system to pursue its geopolitical goals through sanctions, Secretary of the Treasury Janet Yellen has admitted. However, there is no obvious candidate to is replace it, she insisted.

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