The dollar may lose its place as the world’s reserve currency if the US Congress votes to kill the Iran nuclear deal, US Secretary of State John Kerry said on Tuesday.
In a forum hosted by Reuters news service, Kerry predicted that foreign powers would lose faith in the word and commitment of the United States— and would balk at the notion of reimposing sanctions on the Islamic Republic, just weeks after the Joint Comprehensive Plan of Action had been successfully brokered.
Kerry’s appearance was part of a broader push by the Obama administration to take its case for the deal to the American public, which appears skeptical of the agreement, according to several national polls. Congress will vote to approve or disapprove of the agreement in September.
“If we turn around and nix the deal and then tell them, ‘you’re going to have to obey our rules and sanctions anyway,’ that is a recipe, very quickly,” Kerry said, “for the American dollar to cease to be the reserve currency of the world.”
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