Currency Settlement Task News Today

Tech enablers are freeing global payments from the dollar’s clutches but the renminbi isn’t a gainer

BERKELEY — When the United States and its G-7 partners imposed sanctions on Russia’s central bank and barred Western financial institutions from doing business with Russian counterparties, commentators warned of far-reaching changes in the global monetary and financial order. Other countries would see those sanctions as yet another step in the West’s “weaponisation” of finance.