Undoubtedly, the global economic balance in terms of economic and financial is undergoing great changes.
More and more countries reject the use of the dollar in their commercial exchanges.
The phenomenon of defolarization is not something new. There are already many countries that are adding to the scheme that seeks to reduce the dependence of the US currency.
This situation is not something new, several years ago it has been looking, in principle from the BRICS block (Brazil, Russia, India, China and South Africa), but it was accentuated after the sanctions imposed on Russia for the war against Ukraine . Geopolitical uncertainty and dollar volatility led different national organizations to reconsider their monetary strategy, betting on the euro, Chinese yuan and other currencies for their commercial operations.
What European countries have prohibited dollar bills and why?
In this sense, several countries have directly opted for the prohibition of the use of the dollar for commercial transactions. Among them are:
- Russia: After the sanctions, he has opted for the use of local currencies in international trade agreements.
- Belarus: He restricted access to the US currency and promotes the use of ruble and yuan.
- Hungary: reduced its dependence on the dollar in key financial operations.
- Serbia: It is strengthening its trade in euros and rubles, leaving aside the dollar.
- Türkiye: Although it did not completely prohibit it, it limited its use in state and commercial transactions.
What other countries do not accept dollars
Other countries on the list of those who do not accept more dollars are old acquaintances and marked as enemies by the United States of America:
- China: He promoted commercial agreements in Yua and prohibited certain payments in dollars within his financial system.
- Iran: Due to economic sanctions, it officially prohibited the use of the dollar in commercial transactions.
- Venezuela: implemented a financial system based on the Bolívar and other allied currencies, restricting the dollar.
- Cuba: established strict regulations to avoid the use of the dollar in its economy.
- North Korea: It does not allow the use of dollars in its financial system and promotes the use of the local WON.
Source: Ambito
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