The US is not afraid of the plans of Russia and China to abandon the US dollar. This was stated by the head of the US Federal Reserve Jerome Powell.
Speaking in Congress, he pointed out that the dollar is a world-class reserve currency, and “there is no other that could compete with it, and not close.” The advantage of the dollar is provided by “ working democratic institutions of the United States, open markets and low inflation.”
On June 19, the head of the Analytical Credit Rating Agency Mikhail Sukhov explained Russia’s inability to completely abandon the dollar in trade calculations. According to him, a complete rejection of the US currency is impossible, since one of the main export goods — oil — is quoted in dollars.
