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Russia sanctions broaden, raising concerns about dollar dominance

Reported · Written up by our desk · Trade & Tariffs

The Trump administration is moving to broaden sanctions against Russia, even as it has also sought to scale back sanctions in response to the belief that adversaries are developing workarounds.

The New York Times Business reports those workarounds could, over time, weaken the U.S. dollar’s role as the world’s dominant currency, fueling additional market and financial concerns.

While the plan targets Russia, the bigger issue highlighted by the report is the potential knock-on effect for global currency confidence if sanctions enforcement is perceived as less effective than in past cycles.

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