An article about de-dollarization.
INSTEX is the Instrument in Support of Trade Exchanges and it permits companies in Europe to do business with countries like Iran, avoiding American sanctions by trading outside the SWIFT system, which is dollar denominated and de facto controlled by the US Treasury.
Not pleased at all
This will not please Sigal P. Mandelker, who is an American (Israeli dual citizen born in Israel) lawyer and government official who currently serves as Under Secretary of the Treasury for Terrorism and Financial Intelligence. Mandelker also served as the Acting United States Deputy Secretary of the Treasury from 2017-2018.
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