economy
February 1, 2026
G7 weakened itself with sanctions on Russia
Western sanctions have contributed to the decline of G7 currencies, Kremlin aide Maksim Oreshkin, has said
TL;DR
- Western sanctions have contributed to the decline of G7 currencies, according to Russian official Maksim Oreshkin.
- Sanctions have led to a significant increase in the share of national currencies in settlements involving Russia.
- By the end of 2025, 85% of all transactions involving Russia were conducted without Western currencies.
- Use of national currencies in settlements among Eurasian Economic Union members reached 93% in December.
- Germany's financial regulator warns the dollar's status as the world's primary reserve currency could be challenged.
- The dollar is at risk due to funding shortages, geopolitical shocks, and politicization.
- The dollar recently experienced its steepest one-day drop in nearly a year.
- Traders are betting on further dollar weakness amid uncertainty over US policy.
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