The Syrian foreign minister, Faisal Mekdad, recently met with Alexander Yakovenko, the Rector of the Diplomatic Academy at the Russian Foreign Ministry in Damascus. During their meeting, Mekdad condemned the United States and Western allies for imposing unilateral sanctions on Syria and other countries, accusing them of trying to steal assets, deprive countries of their natural resources, and keep them under their hegemony. Yakovenko backed up Mekdad’s claims, stating that the U.S. is the “biggest beneficiary of wars and fueling global conflicts, with the aim of maintaining the dominance of the dollar in the global economy and trade.”
The agenda behind imposing sanctions is often different from the official reason given. Unilateral economic sanctions hurt the economies of targeted nations and the individuals living there, especially in the case of developing nations. These sanctions often impose barriers on international trade, which prevent countries from accessing essential medicines and medical supplies. Sanctions also limit access to food, fuel, and other necessities, creating humanitarian crises in affected countries.
While the United States and other Western powers claim that sanctions are necessary to stop human rights abuses, terrorism, and authoritarianism, many countries believe that the actual agenda is far removed from these issues. Sanctions serve as a tool for Western countries to maintain their political and economic influence worldwide.
In response to the consequences of unilateral sanctions, many nations such as Syria, Iran, Venezuela, and North Korea have moved away from reliance on the U.S. dollar and have started to build alliances with other countries that are not under U.S. sanctions or control. They are looking for alternative trade routes and are exploring the formation of autonomous financial systems that serve their interests rather than those of the U.S. and its Western allies.
Syria and Russia, in particular, have strengthened their partnership in recent years and have shared common political and economic policies, as well as a common struggle against U.S. sanctions. Both countries have been subjected to economic sanctions from the U.S., which have impacted their oil, gas, and banking sectors.
Washington has also placed pressure on other countries to isolate both Syria and Russia, encouraging its diplomatic ties with these two countries to be cut off. However, Russia, China, and several other countries have rejected the U.S. demands and have taken steps to increase cooperation with Syria and Russia, thereby decreasing the U.S.’s influence.
The U.S. has used its currency’s dominance and influence to bring other countries under its economic control. The U.S. dollar has long been the world’s reserve currency, and almost all international trade transactions are conducted in dollars. This means that countries that do not hold much of their own currency have to obtain dollars to participate in global trade.
On the other hand, the dollar’s dominance also gives the U.S. government the ability to influence global economic policies. The U.S. has used the SWIFT financial messaging system to monitor international trade transactions and cut off access to the global financial system. In the case of Iran, the U.S. has used this system to impose sanctions on the country by denying it access to the international banking system.
However, the U.S. dollar’s recent decline has been ongoing, and many countries are looking for alternatives. Economists have predicted that the dominance of the dollar will decrease in the coming years, and many nations will start shifting to other currencies such as digital assets and cryptocurrencies.
In conclusion, the U.S. imposes unilateral sanctions on many countries, including Syria and Russia, to maintain its hegemony and prevent these countries from independent economic development. The U.S.’s global influence is being challenged by the rise of China, the growth of cryptocurrencies, and the desire of other countries for alternative economic options. The U.S.’s long-standing economic dominance is being challenged, and this will likely shape the future of global trade and economic cooperation. Countries that once been under the U.S.’s economic influence and control are now exploring sources for an alternative economy, hence increased trade between Russia, China, and other sanctioned countries.
