Russia Labels Dollar Risky as De-dollarization Gains Speed
The US dollar is currently undergoing a downward spiral. The American currency is down 11% in the last year, rattled badly by Trump’s imposing stance on tariffs, battering the global economy. With raging trade war fears gaining momentum again, a new statement by Russian Minister of Foreign Affairs Sergey Lavrov has added new fuel to the de-dollarization drive. Russia, in the latest BRICS summit, has declared the US dollar “untrustworthy,” claiming that rising US debt is driving the dollar off the charts. Also Read: BlackRock Says Surging US Debt Could Fuel De-Dollarization Russia Indirectly Calls US Dollar Unfit and Unwell: What’s Happening Source: Watcher Guru In the latest BRICS summit hosted in Brazil, Russia’s Sergey Lavrov had dropped another statement, leading fears of de-dollarization to catch fire once again. In his latest opinion, Lavrov has deemed the US dollar untrustworthy. Lavrov stated that escalating US debt tensions are now affecting the American currency. He...