Following Trump Sanctions and Tariff Storm More Nations Ditch the Dollar
NOVANEWS
The number of countries switching to national currencies to settle bilateral trade deals is growing in the face of the US weaponization of the dollar.
by PressTV
When US President Donald Trump re-imposed sanctions on Iran last week, he warned that any company doing deals with the Iranians in dollars would also be subject to sanctions.
Several Russian companies are also under US sanctions, while Trump’s tweet last week doubling tariffs on imports of Turkish steel has caused Turkey’s currency to crash more than 20 percent against the US dollar.
On Tuesday, Russian Foreign Minister Sergei Lavrov and his Turkish counterpart Mevlut Cavusoglu said they backed using national currencies, not the US dollar, in bilateral trade.
Lavrov told a joint news conference with Cavuso...