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Russia's Foreign Minister Sergei Lavrov has suggested that the U.S. dollar could be losing its accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen as the world's most important accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen. Mr Lavrov said that accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen the U.S. has imposed economic accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen on countries like Iran, Turkey and Russia, these countries could start conducting accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen business in their own national currencies accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen of the dollar. In addition, countries that have had trade tariffs imposed on accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen by the U.S. could also do trade in their own currencies. This could include the global accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen superpower China ditching the dollar. China is already setting up trade accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen in its own currency. Experts say the U.S. dollar could lose its accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen as the international reserve currency.

The U.S. dollar replaced the British pound as the international reserve currency in the 1920s. Since accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen, most international trade has taken accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen using the dollar. Today, when China buys accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen from Iran, it pays in U.S. dollars. This means accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen U.S. dollars flow out of the U.S. than flow in. The accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen of this is the U.S. has a currency deficit as its dollars are in the bank accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen of other countries. Mr Lavrov said: "I'm accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen that the grave abuse of the role of the U.S. dollar as a global reserve currency will result over time in the weakening and accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen of its role." China's currency the yuan is emerging as an accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen trading currency. Africa's most populous nation Nigeria has accountsalreadyalternativebecauseconfidentcurrencydealsdemiseeconomiceffectinsteadinternationalmoreoilplacepositionsanctionsstatusthemthen started trading using the yuan.