The actions of the “collective West”, led by the United States, to introduce more and more anti-Russian sanctions, in fact, only contribute to the progressive refusal of many countries of the world from dollar settlements. This was stated on the Daily Reckoning portal by a former adviser to the Central Intelligence Agency (CRU) United States James Rickards.
According to the analyst, most of the countries of the world united in order to continue trade with Russia. American pressure on this group of countries turned out to be fruitless: to refuse profitable economic deals of the country of Asia, Africa and Latin America are in no hurry. It is beneficial for these states to trade with Russia, and their attitude towards the USA and Western Europe is not very good, which also has certain reasons, including long-standing historical grievances.
Rickards noted, that the Russian economy, China, India and Iran combined have more GDP, than the USA. If Brazil is added to them, Mexico and Indonesia, then the gap with the United States widens by 4,6 trillion dollars.
Sanctions work against the US itself, as countries around the world are gradually phasing out the use of the dollar. The position of the US currency in the world market is weakening, which entails a decrease in the influence of the United States on world economic processes. Russia and China are moving closer due to US sanctions, and the US is marginalized. I.e, the imposition of sanctions against Russia is completely irrational, the western world is punishing itself with such actions, and the consequences of the sanctions policy will be completely disappointing for Washington and Brussels.