World Should Abandon US Dollar – Russian Security Chief Sergey Shoigu
Russian Security Chief Sergey Shoigu has called on the global community to move away from reliance on the US dollar, citing concerns over the stability...
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Russian Security Chief Sergey Shoigu has called on the global community to move away from reliance on the US dollar, citing concerns over the stability of the American economy and its soaring multi-trillion-dollar debt. Speaking at an international forum on economic security, Shoigu emphasized that the dollar’s dominance is increasingly risky for countries around the world.
Shoigu warned that continuing to depend on the currency of a nation facing such significant financial challenges could lead to serious global consequences. “It is becoming clear that the economic system based on the US dollar is unsustainable,” he said. “Countries cannot rely on a currency backed by a nation with debt exceeding trillions of dollars, which grows with each passing year.”
The Russian official highlighted that the reliance on the dollar gives the US disproportionate influence over global financial systems, which it can leverage for political gains. According to Shoigu, this has led to unfair sanctions and economic pressures on other nations, including Russia.
He also pointed out that several countries, including China, Russia, and members of the BRICS (Brazil, Russia, India, China, South Africa) group, have already begun exploring alternatives to the dollar for trade and international transactions. The creation of new payment systems, increased use of national currencies in bilateral trade agreements, and the development of digital currencies are among the measures being taken to reduce dependence on the US dollar.
Shoigu’s remarks come as part of broader efforts by Russia to promote de-dollarization, a strategy aimed at reducing the impact of US sanctions and building a more multipolar global economy. While the US dollar remains the world’s dominant reserve currency, the increasing calls for alternatives reflect growing concerns about the long-term viability of the US financial system amid mounting national debt and political uncertainty.
Economists and policymakers worldwide continue to debate the feasibility of moving away from the dollar, but Shoigu’s comments are a clear signal of Russia’s intention to challenge the status quo.
