During a discussion hosted by Reuters on Tuesday, Secretary of State John Kerry said if the United States rejects the Iran nuclear agreement, the U.S. dollar would not be the world’s reserve currency.
“That is a recipe, very quickly, my friends, businesspeople here, for the American dollar to cease to be the reserve currency of the world, which is already bubbling out there,” Kerry said.
Kerry argued that if Congress rejects the deal, the United States would not be able to maintain an international coalition to impose sanctions on Iran and would have to resort to the sanctioning of allies.
“The United States is going to start sanctioning our allies and their banks and their businesses because we walked away from a deal?” Kerry said. “And we're going to force them to do what we want them to do even though they agreed to the deal we came to? Are you kidding?”