Russia’s Final Break from the Dollar: New US Sanctions : Analysis

Washington’s continuous imposition of sanctions on Russia is further pushing Moscow down a path it had already started. This week, the US Treasury escalated sanctions by restricting foreign financial institutions from working with restricted Russian entities, placing sanctions on the Moscow Exchange and its clearing house. Consequently, the Moscow Exchange suspended settlements in dollars and euros, shifting currency trading to an over-the-counter (OTC) model. While this adjustment may pose initial challenges, it aligns with global trading standards. The move could lead to market fluctuations but is unlikely to significantly impact the ruble exchange rate. Additionally, the shift may drive Russia towards self-sufficiency, enhancing domestic investment and economic resilience. Chinese involvement in the Russian forex market remains uncertain amid increasing tensions with the US. The imposition of secondary sanctions signifies a move towards a multipolar world and could accelerate the transition to a new financial order.

Analysis:
The article discusses the recent escalation of sanctions imposed by the US on Russia, particularly in the financial sector, leading to the Moscow Exchange suspending settlements in dollars and euros and shifting currency trading to an OTC model. The information presented appears to be factual, citing specific actions taken by the US Treasury and the corresponding responses from Russia. The analysis suggests that while the shift may initially cause some challenges, it aligns with global trading standards and may not significantly impact the ruble exchange rate. The article also speculates that the move could potentially drive Russia towards self-sufficiency and enhance domestic investment and economic resilience.

In terms of credibility, the article lacks specific sources or references to support its claims. The analysis seems to be based on the author’s interpretation of the situation rather than direct quotes or data from official sources. This could raise questions about the objectivity and reliability of the information presented.

Regarding potential biases, the article seems to present a somewhat positive view of the impact of the sanctions on Russia, suggesting that they could lead to economic self-sufficiency and resilience. This perspective may overlook the potential negative consequences of the sanctions, such as the impact on Russian businesses and the overall economy.

In the context of the current political landscape and the prevalence of fake news, this article could contribute to misinformation by presenting a one-sided view of the situation and downplaying the potential negative effects of the sanctions on Russia. Given the sensitive nature of US-Russia relations and the broader geopolitical implications of these sanctions, it is essential for readers to seek out multiple sources of information to gain a more nuanced understanding of the topic. Additionally, considering the growing influence of fake news and disinformation campaigns, readers should be vigilant in evaluating the credibility and objectivity of the sources they rely on for news and analysis.

Source: RT news: Do the new US sanctions mark Russia’s final divorce from the dollar?