BRICS: Sanctions Turning Chinese Yuan as Main Currency, Not US Dollar

https://watcher.guru/news/brics-sanctions-turning-chinese-yuan-as-main-currency-not-us-dollar

US Treasury Secretary Janet Yellen confirmed that sanctions led to BRICS kick-start the global de-dollarization initiatives. The US pressed sanctions on Russia in February 2022 for invading and waging war against its neighboring country Ukraine. Since then, BRICS has been using all methods to cut ties with the US dollar and use local currencies like the Chinese yuan for trade settlements.

originally posted at https://stacker.news/items/618792