US Treasury admitted sanctions motivated countries to look for alternatives to US Dollar

The sanctions imposed by the United States motivate other states to look for alternative settlement instruments to the US Dollar – as noted by US Treasury Secretary Janet Yellen, RIA Novosti reports

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At a House Financial Services Committee hearing, Yellen said, “It is true that when we impose sanctions, the countries that may become the subject of these sanctions are motivated to look for other instruments for settlements than the US Dollar.”

At the same time, she shared her opinion that at the moment for most countries there are simply no real ways to bypass the use of the US Dollar as a reserve currency.