The result of sanctions imposed by Western countries against Russia for the war in Ukraine may be a more fragmented international monetary system with a weakening of the role of the dollar in certain segments. This was stated by Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF).

At the same time, sanctions can become an incentive for the emergence of small currency blocs, the relationship of which will be based on trade between certain groups of countries..

“The dollar will remain the main global currency even in this situation, but at a smaller level, fragmentation is certainly quite possible,” Gopinath said..

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Earlier it was reported that Nigeria is ready to replace Russia in oil supplies, but does not mind trading with Russia in rubles.

Forbes explained why the ruble in Russia is not collapsing and what the exchange rate will be by the end of the year.