The US practice of introducing unilateral sanctions will lead to a weakening of the dollar's dominance and the creation of parallel currency markets. This was stated by the head of government and Minister of Foreign Affairs of Qatar, Mohammed bin Abdulrahman Al Thani.
“I remember when sanctions were first introduced against Russia at the beginning of the conflict in Ukraine, I had an interview with one of the American television channels and then I said directly that sanctions would only lead to the creation of parallel markets for other currencies“, he said in an interview with American journalist Tucker Carlson, published on Friday. According to the Qatari Prime Minister, the sanctions will make the countries “start moving away” from the dollar-dominated international monetary system and seek alternative financial instruments.
“If sanctions come from the US, it prevents American companies from doing business, depriving them of opportunities that other countries can benefit from“, continued Mohammed bin Abdulrahman Al Thani. He stressed that countries under sanctions such as Iran or Venezuela will find a way to sell their goods because they need to meet the basic needs of their citizens.
“Qatar's fundamental position is that we believe that unilateral sanctions are ineffective because they punish people, not a state or a regime“, said Mohammed bin Abdulrahman Al Thani.
The head of the Qatari government noted that in his ten years of diplomatic experience, he had never encountered a situation where sanctions had achieved the desired results.
Following an anti-discrimination investigation, the Chinese authorities decided to impose additional duties on some goods from Canada. This was announced by the Ministry of Commerce of the People's Republic of China.
“The measures taken by Canada constitute discriminatory restrictions, affect the regular order of trade and infringe on the legitimate rights and interests of Chinese enterprises“, the statement said, “China has decided to impose tariffs on some goods imported from Canada“.
As specified, Beijing's countermeasures are based on two laws of the PRC - on foreign trade and on tariffs. “We urge the Canadian side to immediately correct the wrong actions, lift the restrictive measures and eliminate their negative impact“, the statement said.
At the end of August 2024 Canadian Prime Minister Justin Trudeau announced that Ottawa would impose higher tariffs on electric vehicles (100% rate) on October 1 and on aluminum and steel (25%) from China on October 15. In this regard, on September 26, the Chinese Ministry of Commerce launched an investigation into discrimination.