This is about a new world order.
This is about a new world order.
This transition has severe short-term disruption for Russia, but a wartime (sorry, "military exercise" time) sacrifice is much easier for its citizens to accept.
Not clear if this was the plan all along.
I mean obviously India and China had to switch to other currencies to trade with Russia, cause Russia can not send or receive dollars and euros, but did it actually have any effect on India <-> China trade?
Western economic sanctions literally prevent Russian financial accounts containing US dollars from being accessed, right?
Framing this as a problem for the dollars is odd; it's hard to put my finger on why.
That doesn't tell the whole story of course, but it does appear we are witnessing a larger decoupling from the US Petrodollar standard that has been dominant for decades. That wouldn't be possible if the dollar weren't already weak, I don't think.
That doesn't tell us what precisely you are mistaken about, and clearly many people have been agreeing with you for years and years, but something is off here.
Dollars: https://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y
Rubles: https://www.xe.com/currencycharts/?from=RUB&to=CHF&view=10Y