States Switching Away From Trade In Dollars Must Concern Washington - AmCham

The examples of countries moving away from the US dollar in bilateral trade deals would not significantly undermine the position of the currency but is something Washington should be concerned about, Alexis Rodzianko, the head of the American Chamber of Commerce in Russia (AmCham), told Sputnik in an interview

MOSCOW (UrduPoint News / Sputnik - 06th April, 2021) The examples of countries moving away from the US Dollar in bilateral trade deals would not significantly undermine the position of the Currency but is something Washington should be concerned about, Alexis Rodzianko, the head of the American Chamber of Commerce in Russia (AmCham), told Sputnik in an interview.

"Of course those are considerations and those are costs to the US: the more you use the dollar as a weapon the more people look for the ways to not use the dollar," Rodzianko said to Sputnik.

He went on to say that there is an understanding in the business community of both countries that the US Treasury has raised concerns over this.

"The concept of countries moving away from the dollar and the examples of countries moving away from the dollar are certainly sensitive items for the US and certainly not desirable from the point of view of the US," Rodzianko said.

He added that the "it's not the end of the dollar because China and Russia decide something, not even close" saying that "it's an erosion but it's quite marginal."

Last week, on his visit to China, Russian Foreign Minister Sergey Lavrov said that the two countries have a successful mechanism of switching to national currencies in trade, and would do everything to secure their financial and trade relations from threats from unfriendly countries.