Sputnik — Head of US Think Tank Warns: 'Club of Very Powerful Countries' is Moving Away From Dollar Use

There is a continually growing "club of very powerful countries" in the world, which have a strong "motivation to de-dollarize" their trade, co-director at the Institute for the Analysis of Global Security, Anne Korin warned in her interview with CNBC channel. She added that among the members of this "club" are "major movers" such as China, Russia and the European Union.

The pundit explained that the shift was caused by certain practices, adopted by the US government in recent years. Namely, Washington started to actively use extraterritorial jurisdiction, prosecuting and sanctioning countries and companies that have "nothing to do with the US" under American laws. This happened due to the US extending its laws to entities, which either transfer their money through US banks or use its greenbacks.…

Sputnik International

Head of US Think Tank Warns: 'Club of Very Powerful Countries' is Moving Away From Dollar Use