Roberts: Washington sanctions can lead to a rejection of the dollar.

Roberts: Washington sanctions can lead to a rejection of the dollar.

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Washington sanctions destroys its own influence, says U.S. economist. In his opinion, the use of sanctions promotes rejection of the dollar system, which is basic system of American power.

MOSCOW, July 19. U.S. trying to isolate Russia by means of sanctions, do not notice that they are acting against their own interests, says economist and writer Paul Craig Roberts.

Washington sanctions destroys its own influence, says Roberts. In his opinion, the use of sanctions as an instrument of pressure favors the rejection of the dollar system, which is basic system of American power. Some countries are already abandoning the dollar and conclude bilateral agreements with trading partners on mutual national currencies, the economist and cites the example of a statement of the Bank of France Governor Christian Noyer are voting for the de-dollarization after Americans fined BNP Paribas Bank for violating sanctions against several countries.

According to Roberts, the sanctions are also not able to influence the Russian companies: they are always without problems can get bank loans from China, France and Germany. Against sanctions have already made the largest business organizations in the U.S. – National Association of Manufacturers and the U.S. Chamber of Commerce, said the economist.

According to Roberts, Russia does not need to strive to become part of the Western world.

“Russia does not need the West, but Europe needs Russia. Choosing Russia – stick to their interests and wait for them to attract Europe” – sums up the expert.

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