US plan to use Russian money to help Ukraine threatens dollar

After the US government announced plans to use Russian money and digital currencies confiscated in Europe to finance Ukraine, analysts say the move will pose serious risks for America, especially the thorn backbone of its economy, the dollar.

US donates Russian assets to finance Ukraine

Create resolution The United States' use of Russian money and digital currencies confiscated in Europe to finance Ukraine has sparked widespread controversy among experts and analysts. While some hail the move as a smart move to corner Russia economically and prop up Ukraine, others warn of serious risks for the United States itself.

Since the start of the war in Ukraine, the United States has frozen more than... 300 billion dollars It belongs to Russia. While the seized amount constitutes half of the Russian Central Bank's gold and foreign exchange reserves, the governments of the United States and Ukraine have considered using these funds to finance war efforts in Ukraine.

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As the United States plans to use frozen Russian assets to provide significant financial aid to Ukraine, some analysts say the move could encourage the dedollarization process.

The U.S. House of Representatives has already approved the Rebuilding Economic Prosperity and Opportunity (REPO) Act. This stipulates that the Minister of Foreign Affairs is authorized to make donations to Ukraine “using assets confiscated from the Central Bank of the Russian Federation and other sovereign assets”.

Still, the decision seems fair to his supporters, who see it as a way to help a beleaguered country using the attacker's money. However, diplomatic experts believe that this measure would jeopardize the reputation of the United States. This will also reinforce the need to abolish the dollar in large countries like Russia, China and even in countries that support US policies.

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In fact, the idea of ​​abolishing the dollar does not appear to be the result of Ukraine's need for support, but it has gained momentum since the start of the war in Ukraine. US sanctions have shown that countries whose economies partly depend on the dollar could be subject to a series of punitive measures decided by the United States. To avoid American sanctions, many governments, particularly in... BRICS+ GroupSeparate from the dollar system.

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The freezing of Russian assets by Western countries raises an important debate that goes beyond the question of economic sanctions. Beyond the direct financial impact, geopolitical and ethical concerns are raised regarding the use of these frozen assets.

Some experts have also warned that using frozen assets as an economic weapon could be considered an act of “open warfare,” a situation the United States would like to avoid. This measure would further the escalation of disputes between America and Russia and threaten the collapse of the global financial system.