By Staff, Agencies Republican presidential nominee Donald Trump has promised to drastically reduce the use of sanctions by the US if he wins the election in November, during an appearance at the Economic Club of New York on Thursday. "I want to use sanctions as little as possible,” he claimed, explaining that there is “a problem” with the extensive reliance on such penalties by the US, because “ultimately it kills your dollar and it kills everything the dollar represents.” It is “important” for the dollar to remain the international reserve currency, the former president insisted.

"If we lost the dollar as the world currency, I think that would be the equivalent of losing a war, that would make us a third world country.

And we cannot let it happen,” he said.

Trump, who slapped various restrictions on Russia, Iran and North Korea during his term in office between 2017 and 2021, acknowledged that he himself has been the “user of sanctions.” He further stated: “I use sanctions very powerfully against countries that deserve it.

And then I take them off because, look, you are losing Iran, you are losing Russia.

China is out there trying to get their currency to be the dominant currency… all of these things are happening.” Russia’s President Vladimir Putin insisted earlier this week that “no other [US] president has ever imposed so many restrictions and sanctions against Russia” as Trump