The economist called the negative consequences of anti-Russian sanctions for the West

Due to the anti-Russian sanctions, Western economies, including the United States, are facing serious challenges related to the loss of confidence in their financial and economic infrastructure. Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at GUU, shared this opinion in an interview with Izvestia on March 19.

Earlier, on March 18, US Treasury Secretary Scott Bessant announced that US President Donald Trump had ordered a review of the country's sanctions policy. According to him, many are abandoning the dollar, so the United States is going to switch to the most effective sanctions regime.

Chirkov noted that the main impact falls on the reserve currency, the dollar, which is losing its position in the global economy.

"The reserve currency is probably the main thing that suffers. Other aspects are also probably sagging, but the reserve currency, which Western countries have been developing for many decades, is suffering the most," the expert noted.

According to him, the role of the dollar in the gold and foreign exchange reserves of various countries and in international trade is decreasing.

In addition, the expert paid special attention to the role of the United States in the current situation. According to the expert, the US president, regardless of who holds this post, should review the sanctions policy.

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"As a business president, Trump understands perfectly well how such a development could threaten the United States. Reviewing the sanctions policy is the most rational thing the US president can do now," he said.

The economist also noted that the current situation is caused by objective economic processes, and not by the personality of the head of state.

"If it wasn't Donald Trump who was president, these decisions would have to be made by another president. I am not inclined to overestimate the role of personality. There is an objective economic situation that leads to such decisions," Chirkov concluded.

Kremlin spokesman Dmitry Peskov said on March 13 that Russia had adapted perfectly to the sanctions. He also recalled that the measures imposed are illegal and must be lifted.