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Lavrov says he agrees with Trump about destructiveness of sanctions for US dollar

The Russian foreign minister stressed that, despite the continued dependence of many economies on the dollar, the risk of this phenomenon has already been recognized

MOSCOW, September 20. /TASS/. Russian Foreign Minister Sergey Lavrov said that he agrees with former US President Donald Trump, who called the sanctions imposed by Washington destructive for the dollar and the American economy.

"Donald Trump directly said that the sanctions imposed by the administration of [US President] Joe Biden, using the capabilities of the dollar as a global reserve currency, are destructive for the American economy. I agree with him. Moreover, I agree with him not because I want to, but because the overwhelming majority of countries are already cautious about any operations in the global economy where they will depend on the dollar," Lavrov said in an interview with Sky News Arabia.

The minister stressed that, despite the continued dependence of many economies on the dollar, the risk of this phenomenon has already been recognized.

"The dependence remains. It is huge, including for the People's Republic of China, for India, for most economies in the world. Dependence has already been recognized as a phenomenon that creates a risk for the development of countries. The dollar is gradually being replaced by switching to settlements in national currencies," he said.

On July 29, the US Department of the Treasury announced that the country's national debt had exceeded $35 trillion for the first time in history. According to forecasts from the US Congressional Budget Office, the national debt will exceed $50 trillion in 2034, which will amount to over 122% of GDP.

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Foreign policy Sergey Lavrov United States Donald Trump

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