Egypt Officially Ditches The US Dollar After Joining Brics.

Подробнее о видео

#africanews
Since 1944, the US dollar has been the world's reserve currency as a result of the Bretton Woods Agreement. This means that whenever countries engage in International trade, the currency used to facilitate payment is the dollar. Although there have been many calls since 1971 after the United States ditched the gold standard for an end of the U.S. dollar as the world's reserve currency, no concrete decision was made until countries of the world realized that the United States has been using the dollar as a financial weapon to advance its own hegemony around the world. Whenever any country does not see eye to eye with the US, it either creates instability through military invasion such as in Iran or impose financial and economic sanctions such as in Russia and Uganda. When the United States imposed all-encompassing sanctions against Russia following that country's invasion of neighboring Ukraine, it became obvious to world leaders that they faced the threat of the US freezing their funds whenever it liked. Thus, the call for de-dollarization began, and this time countries are not just calling for a shift from the dollar, they are also actions, and one such country that has taken a definite step is Egypt.