Scott Bessent explained the decline in the share of the dollar in world reserves by the actions of Russia and China

WASHINGTON, September 15 – RIA Novosti. The share of the US dollar in global reserve assets has declined mainly due to the actions of Russia and China, but the position of the US currency in global calculations continues to strengthen, US Treasury Secretary Scott Bessent said.

“The only thing we are seeing is a decline in reserve assets, and this is mainly due to a decline in their volumes in reserve stocks of Russia and China,” Bessent said during a hearing of the US House of Representatives Finance Committee.

At the same time, the minister emphasized that the US currency still dominates in all international trade.

"What we see is that the US dollar's share of global transactions continues to grow. In fact, the dollar's share of global transactions has increased this year," Bessent said.

He also cited recent placements of government bonds as evidence of the stability of the American financial system. According to the minister, the United States hosted two of the most successful Treasury bond auctions in the last 20 years, which indicates confidence in the administration's policies and the reliability of the system as a whole.