Follow us on social

Dollar

Dedollarization is here, like it or not

A major driver is Washington’s weaponization of its currency via sanctions, covering 29 percent of the global economy. (Video)

Analysis | Africa

Dedollarization appears to be an unstoppable trend as countries around the world look to reduce their dependence on U.S. currency.

Countries, particularly those in the Global South, are reducing their U.S. dollar reserves, settling cross border transactions in non-dollar currencies, and exploring the formation of new multilateral settlement mechanisms.

A major driver of this trend is Washington’s weaponization of the dollar via expansive sanctions that currently cover 29 percent of the global economy and 40 percent of global oil reserves.

Two recent Responsible Statecraft articles, one authored by International Crisis Group co-chair Frank Giustra and another by Quincy Institute Non-Resident Fellow Amir Handjani, began the process of explaining the drivers of this economic trend, as well as the geopolitical pitfalls facing the U.S. as much of the world reduces its dependence on the dollar, especially if the U.S. fails to engage other countries in the process of forming a multilateral monetary system.

In this video, Giustra and Handjani make the case for the U.S. acknowledging the trend of dedollarization and for Washington to address the national security dangers, as well as global economic and political instability, associated with this unmanaged decline of U.S. economic hegemony.


Shutterstock
Analysis | Africa
Stars are aligned for Trump's troop withdrawal from Syria
Top photo credit: U.S. military forces walk toward their next coordination along the demarcation line outside Manbij, Syria, July 18, 2018. The U.S. and Turkish militaries conducted these patrols to help reinforce the safety and stability in Manbij. (U.S. Army photo by Staff Sgt. Timothy R. Koster)

Stars are aligned for Trump's troop withdrawal from Syria

Middle East

The blitzkrieg offensive which ousted Syrian dictator Bashar al-Assad in December 2024 has sparked an explosive political and military reaction across the country.

Al-Qaeda offshoot Hayat Tahrir al-Sham (HTS) seized Damascus, Israel extended its occupation in southern Syria, and Turkey launched fresh military operations targeting the secular, multi-ethnic, Kurdish-led federation in North and East Syria (NES), where the U.S. has long maintained a military presence with boots on the ground, justified by its anti-ISIS mission.

keep readingShow less
Donald Trump
Top image credit: President Donald Trump speaks to the media following the White House Easter Egg Roll in Washington, D.C., on April 21, 2025. President Trump speaks about Secretary of Defense Hegseth, the Pope's death, and the situation in Ukraine and Iran. (Photo by Andrew Leyden/NurPhoto) VIA REUTERS

Ukraine and Europe can't afford to refuse Trump's peace plan

Europe

Most of the peace plan for Ukraine now sketched out by the Trump administration is not new, is based on common sense, and has indeed already been tacitly accepted by Kyiv.

Ukrainian officials have acknowledged that its army has no chance in the foreseeable future of reconquering the territories now occupied by Russia. Vice President J.D. Vance’s statement that the U.S. plan would “freeze the territorial lines…close to where they are today” simply acknowledges an obvious fact.

keep readingShow less
Michael O'Hanlon, Jack Keane, Michele Flournoy
Top photo credit: Michael O’Hanlon (DoD Photo by U.S. Army Sgt. James K. McCann), Ret. General Jack Keane (White House photo) and Michele Flournoy (CNAS/Flickr)

Could a Blobby enclave be sowing chaos at DoD?

Military Industrial Complex

UPDATE 4/24, 5:15 PM: The Defense Policy Board website has been scrubbed, as reported by The Intercept. The list of DPB members can still be viewed on an archived version of the website.


Discussing alleged Pentagon leaks with Tucker Carlson on Monday, recently ousted DoD official and Iraq war veteran Dan Caldwell charged that there are a number of career staff in the Pentagon who oppose the current administration’s policies. He then took particular aim at the the Defense Policy Board as a potential source of ongoing leaks to the press.

keep readingShow less

LATEST

QIOSK

Newsletter

Subscribe now to our weekly round-up and don't miss a beat with your favorite RS contributors and reporters, as well as staff analysis, opinion, and news promoting a positive, non-partisan vision of U.S. foreign policy.