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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

US dollar may lose dominance due to Russian sanctions: IMF

  • By Al Mayadeen net
  • Source: Agencies
  • 31 Mar 2022 15:01
2 Min Read

The IMF’s first deputy managing director Gita Gopinath pointed out that small currency blocs may emerge based on trade between certain groups of states.

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  • US Dollar may lose dominance due to Russian sanctions :IMF
    IMF's first deputy managing director Gita Gopinath (IMF/Joshua Roberts)

Sanctions implemented by Western countries against Russia might split the global financial system and erode the US dollar's supremacy, according to Gita Gopinath, the IMF's first deputy managing director.

According to Gopinath, drastic restrictive measures adopted by Western countries following Russia's special operation in Ukraine may lead to the formation of tiny currency blocs based on commerce between certain groupings of states.

Speaking to the Financial Times, Gopinath expressed that "We are already seeing that with some countries renegotiating the currency in which they get paid for trade."

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The director added that "The dollar would remain the major global currency even in that landscape but fragmentation at a smaller level is certainly quite possible."

Read more: As Russian gas export payments will be paid in ruble, currency recovers

The US and its western allies have imposed strict and harsh sanctions on Russia following its military operation in Ukraine.

Sanctions have included restrictions on the Russian central bank, export control measures, SWIFT cutoff for select banks, and closure of airspace to all Russian flights. Many of their companies have suspended their Russian operations.

Over 1,000 Russian individuals and businesses have so far been sanctioned by the US, UK, and the EU.

Read more: India, Russia discuss Rupee-Ruble exchange amid sanctions

The USD exchange rate declined in favor of the Russian ruble, trading at 90 rubles during Monday trading on Moscow Exchange for the first time this month. On the other hand, the euro dropped below 98 rubles for the first time since the end of February, trading data suggested.

  • United States
  • International Monetary Fund
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Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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UKLFI’s latest faux pas, like "Israel’s" recent failed attempt at regime change in Iran, is unambiguously indicative of a flailing entity on the verge of extinction. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

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