/ world today news/ The introduction of US sanctions against Russia will accelerate the process of pushing the US out of the world economy, in which the role of the dollar will decrease, while backing the ruble with gold should strengthen the value of the Russian banknote, Dan Kovalik, professor at the university in Pittsburgh, opined.
As the expert noted, the American policy of sanctions forced many countries to switch to other currencies in international payments. “The current imposition of sanctions against Russia will only accelerate this process. As I have been repeating for many years, American sanctions will be pushed out of the world economy, this is exactly what is happening before our eyes, “said Kovalik in an interview with RT.
The expert noted that the ruble, unlike the dollar, is supported by gold, which should strengthen the value of the Russian banknote, and the role of the American currency will decrease. “Unlike the US dollar, backed only by the ‘full trust’ clause of the US constitution, the ruble will have real value. People, of course, have less and less faith in the US dollar because the US has serious debts,” Kovalik concluded.
A day before, the exchange rate of the dollar on the Moscow Stock Exchange fell below 81 rubles for the first time since February 23. Earlier, China called Russia’s special operation in Ukraine a “funeral” of US hegemony. “The era in which the US could dictate how global affairs are conducted is over. Various US-dominated institutional arrangements, including the hegemony of the dollar, will inevitably fall away,” the Global Times wrote.
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