MacroVoices · Thursday, August 27, 2026
Daniel Lacalle states that countries like Russia, China, and Iran are actively seeking to diversify away from the US dollar due to its perceived 'weaponization' through sanctions. This geopolitical pressure, coupled with the desire to avoid sanctions, is a primary driver for exploring alternative reserve assets such as gold and cryptocurrency.
“The reason why countries like Russia and China and Iran, for example, are looking to diversify away from the dollar is precisely because they see the dollar as a weapon.”
“They see the US using its monetary dominance to impose its will on other nations.”
“And that diversification will be driven by geopolitical factors, by the desire to avoid sanctions, and by the ongoing evolution of the financial system.”