Vladimir Putin Criticizes the Weaponization of the US Dollar
Jose Nino
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In his interview with Tucker Carlson, Russian President Vladimir Putin declared that the United States government’s decision to use the dollar as a political hammer against its rivals was one of its biggest strategic mistakes it has ever made.
“You know, to use the dollar as a tool of foreign policy struggle is one of the biggest strategic mistakes made by the US political leadership. The dollar is the cornerstone of the United States’ power,” Putin stated.
“As soon as the political leadership decided to use the US dollar as a tool of political struggle, a blow was dealt to this American power. I would not like to use any strong language, but it is a stupid thing to do and a grave mistake,” the Russian leader added.
Since the end of World War II, the US has enjoyed the privilege of having the dollar as the world’s reserve currency. This has given it massive leverage over other countries when it comes to economic dominance and punitive actions. Any country that would stand up to the US, would be hammered with stiff sanctions and be effectively cut off from the world economy.
This was the case for several decades, especially during America’s unipolar moment. However, with the emergence of multipolarity in the geopolitical arena, the game has changed.
As China and Russia rise as military and economic actors, the US will have a much harder time in causing geopolitical chaos abroad and economically isolating countries that anger it.
These “rogue” nations now have alternatives in China and Russia to turn to for trade and even defense arrangements. This is the new reality of multipolarity and it would behoove Western policymakers to adapt to these new circumstances on the world stage.
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