Central banks are starting to question whether reliance on the U.S. dollar is a good idea, said Gal Luft of the Institute for the Analysis of Global Security.
He said one in 10 countries in the world is under some form of U.S. sanctions.
Oil is typically priced in U.S. dollars, and that has allowed Washington to run"huge deficits," he told CNBC'sHe said the American political class has a"lack of awareness" about the consequences of their actions. "On the one hand, you are sanctioning right and left. On the other hand, you want countries to buy your Treasurys and finance your debt. That's not a sustainable scenario," he said.Separately, Luft, who is senior advisor to the U.S. Energy Security Council, discussed the uncertainty in global energy markets.
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