Marko Kolanovic: Current U.S. Policies May Accelerate Global De-Dollarization Push

On Tuesday, there was important news on the de-dollarization front. In what we (correctly) described as a "brazen" move, the E.U., China and Russia announced their intention to establish an SPV that will allow everyone to simply circumvent Trump’s sanctions on Iran. The E.U.’s Federica Mogherini told the UN General Assembly that the vehicle “will allow European companies to trade with Iran in accordance with EU law and could be open to other partners in the world”. A joint statement