(MENAFN) United States restrictions are forcing many nations to find substitutes to the dollar for settlements, Treasury Secretary Janet Yellen confessed throughout her yearly appearance on Tuesday in front of the House Financial Services Committee to debate over the state of the global economic system.

Questioned regarding the jeopardy of de-dollarization, Treasury Secretary realizes that the usage of the greenback in the international economy is weakening.

“It’s not surprising that countries that are fearing they can be affected by our sanctions are looking for alternatives to the dollar. It’s something that we simply have to expect,” Yellen said.

Questioned by Congressman Vicente Gonzalez if the United States must decrease the usage of restrictions in its foreign policy given that even conventionally associated nations, like France, have been making non-dollar dealings, Yellen claimed for most nations she sees “no meaningful workaround” to utilizing the dollar.

She realizes that there is an increasing change away from the dollar within international reserve properties but clarified her trust that the greenback is expected to hold its position as the main currency.

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