"You're now seeing a lot of countries de-dollar their transactions because we’ve forced it and this goes beyond even Russia, China, and Iran,” Elon Musk said during a Twitter Spaces session hosted by American entrepreneur David Sachs on Monday, RT reported.
Musk underlined a shift to trade in national currencies, especially among the BRICS group of emerging economies, adding that it was not a choice made by these countries, but rather a necessity forced upon them by Ukraine-related Western sanctions against Moscow.
“Countries like Brazil or India still want to transact with the Russian Federation. They can’t do it with dollars, so we've forced them to de-dollarize their transactions, thus weakening the strength of the dollar in the world,” he explained.
The weaponization of the greenback has pushed many countries to look for alternatives after sanctions effectively cut Russia off from the Western financial system.