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Russia's Foreign Minister Sergei Lavrov has that the U.S. dollar could losing its status as the world's most important currency. Mr Lavrov that because the U.S. has economic sanctions on countries like Iran, Turkey and Russia, these countries could conducting international business in their own national currencies instead of the dollar. In addition, countries that have trade tariffs on them by the U.S. could also trade in their own currencies. This could the global economic superpower China ditching the dollar. China is already setting up trade deals in its own currency. Experts say the U.S. dollar could its position as the international reserve currency.

The U.S. dollar the British pound as the international reserve currency in the 1920s. Since then, most international trade has place using the dollar. Today, when China oil from Iran, it in U.S. dollars. This means more U.S. dollars out of the U.S. than flow in. The effect of this the U.S. has a currency deficit as its dollars in the bank accounts of other countries. Mr Lavrov said: "I'm confident that the grave abuse of the role of the U.S. dollar as a global reserve currency will over time in the weakening and demise of its role." China's currency the yuan is as an alternative trading currency. Africa's most populous nation Nigeria has already trading using the yuan.