The US Treasury: the introduction of the digital ruble will not affect the effectiveness of sanctions
Organizations from Russia do business with companies from around the world and most transactions are done in dollars
18.11.2021 - 10:25
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What’s new? The US Deputy Treasury Secretary, Wally Adeyemo, told CNBC that the introduction of the digital ruble in Russia will not make US sanctions less effective.
“We believe that even if a digital ruble or other digital currencies come into place, there will still be scope for our sanctions to have an impact on their economies,” Adeyemo stated.
How did the official explain his position? According to Adeyemo, organizations from Russia do business with companies from around the world and most transactions are done in dollars. Thus, the country's economy is very dependent on this currency.
“Ultimately the thing that is going to drive the dollar’s position in the world are the decisions we make in America about investing in our economy,” Adeyemo noted.
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