Now I think the United States looks like a main threat to this liberal economy of the world. They use the instrument of the world trade, the dollar, as a weapon, as an economic weapon against Russia, against China, even against Mexico — Alexander Zhukov, First Deputy Chairman of the State Duma of the Federal Assembly of the Russian Federation .
We had a very efficient monetary system based on the US dollar, on institutions like the IMF, like the WTO, so everything was more or less clear, understandable, and efficient. But we have a built-in contradiction – that this system is based on trust in US dollars, and we have a very huge temptation from the government, from the institutions of the United States to use this system in order to have some internal political goals, economic goals. And now we see this situation. <…> Now it has become not efficient now using US dollar accounts — Dmitriy Pankin, President, Chief Executive Officer and Chairman of the Board of Directors, Black Sea Trade and Development Bank.
It is not possible to see it now, but the long-term erosion of the dollar’s position is going to take place most probably. That is because if you use it as a political instrument then it is not on the same level of value as it was before, because it is politically defined. It is politically used, and it is certainly from my point of view in the long run very dangerous for the US position — Frank Schauff, Chief Executive Officer, Association of European Businesses.
The Trump administration has weaponized the dollar. That affects everybody in the world. That affects global trade significantly. <…> The entire global economy is always connected but when you have one or two countries that can call the shots, that can change oil prices in a heartbeat, not based on any economic rationality but because of a political decision — Peter Lаvelle, Anchor, RT .