FARS: "The supremacy of the US dollar is in danger"

The Iranian FARS news agency considers that the cooperation between Russia, Iran and China threatens the US dollar. Moscow and Tehran seek opportunities not to use the US dollar as a means of payment, which will soon make Washington regret the sanctions imposed against Iran and Russia.

The supremacy of the US dollar is in danger: more and more countries around the world are inclined to replace the US currency. Russia and Iran, for example, in March this year signed an agreement to establish a joint committee to oversee interbank financial transactions between the two countries. Such an agreement will help to avoid future sanctions by Washington and its allies, and will become a powerful financial weapon against the West. It is no secret that the US dollar is used as leverage in the economic war against those countries that do not agree with the decisions of the political elite of America. For this reason, world leaders such as Iran and Russia are forced to look for a replacement of the dollar.

At the time, Saddam Hussein and Muammar Gaddafi openly declared their desire to replace the dollar with the euro and the ‘single African currency,’ which would be supported by gold reserves, for oil operations and in foreign trade. As a result, the two leaders were overthrown. But it is unlikely the United States will be able to influence Russia and Iran in their decision to abandon the US currency. This fact causes panic in Washington.

As more and more countries around the world boost dedollarization, a depreciation of the US currency is expected, which in turn will lead to a significant weakening of the dollar. Rejection of the US currency is an obvious reaction to the long-term policy of the US leadership on the oppression of its geopolitical rivals. An economic war was launched by Washington to impose sanctions on Moscow and Tehran, but would be won by Russia and Iran, who are determined to eliminate the dollar from their turnover.

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The European edition of Natural Gas Europe, specializing in the analysis of the global energy market, wrote about what to expect in Russian-Turkish relations. Rising tensions between Moscow and Ankara have focused the world's experts on the energy side of the issue. According to many of them, Ankara's sharp policy toward Moscow is due to the fact that because of Russia's military operation in Syria, Turkey may lose its geopolitical position. Therefore, the country's leadership has decided through escalation of relations with Russia to remind the world of its importance in the region.

Of course, such behavior by the Turkish authorities will negatively affect Turkish-Russian energy relations. There is a particularly difficult situation regarding natural gas, which Turkey imports from Russia amounting to 50% of the needs of the state. Most of all, cooperation in this sector will continue, but it is possible that the Russian side will take steps that restrict exports. In this scenario, Ankara would be in a quandary.

However, most likely, Turkey will seek to de-escalate tensions, as it is too dependent on Russia, not only in energy but also in economic and trade terms. Certainly, for Ankara it is crucial to maintain its geopolitical position, but the price for it may be too high for the Turkish economy.