Clip

Potential impact of US decisions on USD reserves in other countries
The US Treasury Department is considering freezing Russian assets which may cause Russia to default. If countries realize that under certain circumstances their dollar assets in the US can be frozen for political or moral reasons, it would make them reconsider keeping their money in dollars in a US bank for paying others back, which could negatively affect USD reserves in other countries, potentially devaluing the US dollar as the reserve currency of the world.