US sanctions on Iran, Russia losing effect as dollar falls: Analyst

The US government’s economic sanctions against Iran and Russia are illegal, says a Russian analyst, arguing that the bans are losing their effect because the US dollar is also losing value.

Speaking to Press TV on Wednesday, Dmitry Babich, with Sputnik International Radio, said recent remarks by Russian Foreign Minister Sergey Lavrov that the dollar was losing value summarized the current state of the US economy and its declining political power.

“Abuse, gross abuse of the role of the US dollar as a world reserve currency will cause its role to be weakened,” Lavrov said at a press conference with Turkish Foreign Minister Mevlut Cavusoglu in Ankara earlier this week.

This, the top Russian diplomat argued, is prompting other countries to replace dollar with more stable foreign currencies.

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