The United States is not afraid of plans by Russia and China to abandon the US dollar. This was stated by the head of the Federal Reserve of America Powell.

Speaking to Congress, he pointed out that the dollar is a world-class reserve currency, and “there is no other that could compete with it.” The advantage of the dollar is provided by “working democratic institutions of the United States, open markets and low inflation.”

On June 19, the head of the Analytical Credit Rating Agency, Sukhov, spoke of Russia’s impossibility to completely abandon the dollar in trade settlements. According to him, a complete rejection of the American currency is impossible, inasmuch as one of the main export commodities – oil – is quoted exactly in dollars.