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    Biden signed a law banning Russia and Belarus from providing dollars in exchange for SDRs

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    US President Joe Biden signed a law banning the US Treasury Department from participating in special drawing rights (SDR) exchange operations held by Russia and Belarus. The corresponding statement on Tuesday, October 4, was circulated by the press service of the White House.

    As stated in the document on website

    of Congress, the bill also requires the US Department of the Treasury to take action to “oppose financial assistance to Russia or Belarus.”

    It is noted that the US Treasury should advocate for the member countries of the International Monetary Fund (IMF) to prohibit transactions related to the exchange of SDRs belonging to these two countries, and send US representatives to each international financial institution so that they opposed the provision of financial assistance to Russia or Belarus.

    “The provisions of the bill will remain in effect until five years after entry into force or 30 days after the president informs Congress that Russia and Belarus . The President can also waive provisions by telling Congress that it is in the national interest of the United States,” the publication says.

    SDR is an interest bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. SDRs are based on a basket of international currencies that includes the US dollar, Japanese yen, euro, pound sterling and Chinese yuan. special military operation of Russia to protect Donbass, but does not send its military contingent to the conflict zone. As the Belarusian leader explained, the participation of Belarus in the special operation is to prevent the conflict from spreading to the territory of its country. it included dozens of individuals and legal entities. It is also reported that sanctions have been imposed against companies from China, Belarus and Armenia for supporting Russia. all states. The head of state noted that everyone who tries to challenge Western hegemony is considered an enemy. According to him, the military doctrines of the United States and NATO are based on dominance.

    On September 22, it was reported that the US Treasury began looking for a sanctions specialist who would help avoid the negative impact of restrictions on the economy countries.

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