Zero Hedge: IMF Warns Countries May Cut Dollar Reserves In Response To US Sanctions Against Russia
Did the IMF just parrot one of Russian President Vladimir Putin's favorite criticisms of Western sanctions?
During an interview with Foreign Policy, the IMF's first deputy managing director, Gita Gopinath, warned that Western sanctions on Russia, and more specifically, the confiscation of dollar- and euro-denominated reserves held by the Russian Central Bank, could backfire by making other foreign central banks more reluctant to hold such a large amount of their own foreign reserves in dollars and euros.
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WNU Editor: Weaponizing the US dollar and Euro will have consequences. On that I have no doubt about it.This IMF official is just stating the obvious.