Republika Srpska Moves To Establish New Bank To Bypass US Sanctions

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As the Biden Administration continues to aggressively use the U.S. dollar as a political weapon to impose its globalist agenda on the rest of the world, more and more countries are looking for alternatives to the dollar as the world’s reserve currency. The latest instance is in Republika Srpska where President Milorad Dodik announced plans to establish a new bank.

The moves comes after the U.S. imposed sanctions on Dodik and other high-ranking Serbian officials, closing their bank accounts. The Biden Administration decision was based solely on political considerations. The Office of Foreign Assets Control (OFAC), part of the U.S. Department of the Treasury, imposed sanctions on 19 Serbian officials.

The move to establish a new bank faces an uphill battle, as economic experts say it would be difficult for it to receive regulatory approval and that it would not be allowed to join the SWIFT system.

Speaking to Forbes magazine, Economist Igor Gavran said that the Biden Administration will likely continue its aggressive actions. “It is entirely possible that the next step could be to cut the sources of funding to Republika Srpska that are still available, potentially as a pressure to remove the sanctioned politicians from power.”

Whether or not the move to establish a new bank in Republika Srpska is successful or not will likely depend on support from BRICS countries who are already seeking alternatives to the U.S. dollar. Regardless, it is another indication of how the Biden Administration is subverting the U.S. economy and risking a financial crisis that will surely ensure if the world turns from the U.S. dollar.