THE JOURNAL OF EXPORT CONTROLS AND SANCTIONS

Issue 82, September 2019

Has the United States weaponised the dollar?

Global commerce so relies on the US dollar that the currency has become a key weapon in the Trump administration’s foreign policy arsenal. Can this pre-eminent position be challenged, ask Matthew..

Global commerce so relies on the US dollar that the currency has become a key weapon in the Trump administration’s foreign policy arsenal. Can this pre-eminent position be challenged, ask Matthew Oresman and Henrietta Worthington. According to the European Central Bank, in 2019 the dollar accounts for more than 60% of global debt, over 40% of global international payments, and is by far the favoured foreign exchange reserve currency, comprising over 60% of global reserves. This ubiquity has allowed the US unprecedented power in wielding economic sanctions, an increasingly favoured technique under the Trump administration. Indeed, as US secondary sanctions apply...

Please Login to view this content. (Not a member? Join Today!)
Please login or subscribe to view this content.

SUBSCRIBE NOW TO RECEIVE


Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.