US Treasury Secretary Scott Bessent hinted Russia might return to dollar-based financial system once Ukraine conflict ends. In a CNBC interview,he said Russia would likely want back in on dollar transactions, given dollar's role as a key player .
Bessent remarked, "You know,I would anticipate when Russia-Ukraine conflict ends,that Russia will want to come back in the dollar system because again,the dollar, it’s our liquidity, it’s our capital markets. It’s depth and breadth . Everyone wants to be here." His words echo a belief that many countries still aim to engage with dollar-centric economy.
Besides Russia,Bessent talked about plans to bring Iran and Venezuela back into dollar fold. This move signals US's strategy to hold its global financial influence . And Bessent's comments show dollar's lasting pull,even as geopolitical tensions push some nations to look elsewhere.
If Russia rejoins dollar system, it could shift international economic dynamics, especially as Ukraine situation changes. Bessent's point that "everyone wants to be here" suggests an acknowledgment of dollar's central place in global finance…
