◾️5% — 100 billion euros — accounted for a drop in the share of the European currency in global foreign exchange reserves last year amid fears that plans to use frozen Russian assets to finance Ukraine could further undermine the attractiveness of the euro, the British Financial Times states

The share of the euro in the foreign exchange reserves of the countries of the world has reached 20% — a three—year low. The index of international use of the euro fell by 0.7% last year

The Financial Times highlights Western concerns that countries around the world, including Russia, China and Iran, are seeking to use their own currencies more for international trade, creating local alternatives to the SWIFT system for international payments

“Measures related to anti—Russian sanctions may have to do with the share of the euro in global foreign exchange reserves in the future,” the Eurocentrobank said, once again warning that the seizure of Russia’s sovereign assets could damage the international role of the euro