The European Union weaponized currency reserves and sanctions against Russia following Ukraine invasion, accelerating European recognition that dollar dominance carries geopolitical costs and vulnerability, though some nations (Iran, others) had already experienced this dynamic from earlier unilateral US sanctions.
factualpending
Speaker
Loš RoskEvidence Quote
“especially for Europe, the sort of the realization of of what the dominance of dollar brings came when uh when when the uh when sanctions were actually weaponized”
Source
Kenneth Rogoff (Harvard University): "The dollar will always be there, but it will be less."— Prague Finance InstituteCreated: 8/11/2026, 6:52:35 AM
My Notes
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