END of an ERA: Russian foreign minister declares Western economic dominance is over

Russian Foreign Minister Sergey Lavrov said that the Western dominance era does not exist anymore as multipolarity is on the rise.

In an exclusive interview with RT, a Russian 24/7 English-language media outlet, Lavrov said that Western countries, led by the United States, should be done calling the shots for the world as it has already prevailed for 500 years. “The West was calling the shots in the world for more than 500 years, more than five centuries. And this era is over,” the Russian top official said. He added that although it took time for the Western-dominated era to be replaced by multipolarity, it has already started to take shape as new centers of economic growth, financial might, political influence and military might were established. He named China, India, Iran, the Gulf countries and groups such as the Community of Latin American and Caribbean States (CELAC) as among the growing economic powers. They seize opportunities to cooperate and strengthen ties, he added.

Lavrov also mentioned the suggestion by Brazilian President Luiz Inacio Lula da Silva, who said CELAC should “really think about getting rid of total dependence on the U.S. dollar and think about their own currency.” For Lula, an alternative payment platform for the BRICS group of nations – Brazil, Russia, India, China and South Africa – is needed. (Related: Russia announces updates on new BRICS currency to counter U.S. dollar – it could be ready for launch by next summer.)

According to Lavrov, these ideas are a response to the way the U.S. is “abusing the role of the dollar with unilateral sanctions, just canceling overnight all the principles they were basing their model of globalization on, and inviting everyone to join.” He cited a similar event that happened at the World Trade Organization (WTO) where China gained more clout in global trade and investment. “As China was winning over the United States on American-made turf, immediately the WTO dispute resolution organ was immobilized,” he said.

The Russian diplomat claimed that Washington invents rules which it insists everyone else must follow, as long as these regulations serve US interests. As soon as other nations become more efficient than the US itself, the rules are changed, Lavrov said.

Before the Business Roundtable’s CEO quarterly meeting on March 21, 2022, U.S. President Joe Biden had called for a new world order and said the U.S. would lead it. “There’s going to be a new world order out there and we’ve got to lead it. We’ve got to unite the rest of the ‘Free World’ in doing it,” Biden said. It should be noted that Russian President Vladimir Putin is a strong proponent of multipolarity and a very vocal critic of global Western superiority since Moscow’s conflict with Kyiv started. And for Lavrov, Biden’s statement hinted “superiority complex.”

Back in September, U.S. Secretary of State Antony Blinken called for a new world order to counter Russia and China in a speech at Johns Hopkins University in Washington. He claimed that the two countries have framed the existing order as a “Western imposition,” but that system is anchored in universal values and enshrined in international law. Ironically, he also accused them of believing that big countries can “dictate their choices to others,” a charge that is increasingly made against the United States.

West is an empire of lies: Lavrov

Two months ago, during the United Nations General Assembly, Lavrov said that the new world order is being born through a struggle between a neocolonial minority and a global majority seeking to end decades of Western domination. He said that power was slipping through the hands of the old order, dominated by Washington, which has long rejected the principle of equality. “Americans and Europeans make all sorts of promises…and then just don’t fulfill them,” he pointed out to the delegates.

According to him, Russian President Vladimir Putin once said that the West was “truly an empire of lies,” which even during the battle against Nazism in World War Two, had plotted an offensive against their Soviet allies. Soviet and then Russian leaders were given concrete political assurances regarding the non-expansion of the NATO military alliance to the east, which turned out to be pure deception, he further highlighted.

Meanwhile, in a separate meeting with foreign ambassadors in Moscow, he revealed that the U.S. continues to buy uranium and other critical goods from Russia while pushing the European Union to abandon “everything Russian.” “The U.S. is ruining its European vassals while creating opportunities to earn more for its military industry. It has imposed and continues to impose expensive American liquefied natural gas on the E.U., forcing European companies to transfer enterprises overseas,” he disclosed.

He added that over the past 1.5 years, according to conservative estimates, European business has lost up to €250 billion due to Western unilateral sanctions. Because of this, the financial restrictions bounced back and now many countries, including Argentina, Egypt, China, India, Saudi Arabia, Turkey and the United Arab Emirates are transferring payments in national currencies because the U.S. dollar and euro were weaponized.

Visit CurrencyCrash.news for more stories on how the United States dollar is being replaced by other currencies in the world market.

Sources for this article include:

RT.com

WhiteHouse.gov

News.UN.org

AA.com.tr