The Financial Times, an international business newspaper, received a document from the European Commission, which says that the world financial markets are already tired with a large dependence on the US dollar. The current balance of power in the financial and political arena prevents the easing of financial tensions and the reduction of financial risks, or, more simply, prevents the European community from achieving stability. Thus, the European Union intends to weaken this existing dependence on the US currency and strengthen the global role of the Euro currency. The implementation of this plan is designed to reduce the dependence of the euro on other currencies and protect the European economy from currency fluctuations.

The position of the US dollar has strengthened in the last four years during the term of Donald Trump. Its dominance in the entire global financial system has become the most notable. This situation somewhat calmed the members of the European Commission and made them think. The document also notes the difficulties that the European Union experienced after Trump's sanctions against Iran. Trump's Iranian policies have had a direct impact on financial infrastructure in Europe, particularly on the Swift payment messaging system, as well as the Euroclear and Clearstream securities depositories.

Moreover, the US sanctions against Iran forced the leadership of the EU to create a special mechanism designed to adapt payments in the framework of legal trade between the EU countries and the Islamic Republic. The document of the European Commission, published by the Financial Times, states the following: "The European Union is forced to develop measures to protect its operators in case that a third country forces the financial market infrastructure formed on the territory of the European Union to follow the sanctions adopted unilaterally."

Following the change of power in the White House, the European Community intends to strengthen its independence in various areas, including financial. This desire was especially strengthened after Trump violated transatlantic norms of law. EU leaders, realizing that traditional Brent and WTI are directly linked to the US dollar, plan to discover new energy sources that are alternative to crude oil. For example, such an energy carrier can be gas, whose sale quickly leads to contracts in euros on the Dutch stock exchange. Another alternative feedstock is hydrogen.

Other parts of the released document also talk about the EU's plans to strengthen its independence from the infrastructure of the British financial market after Brexit, mainly from British clearing houses.

It is worth noting that this document, which outlined some of the plans of the European Commission, is scheduled to be adopted on January 19, that is, before Biden's inauguration. The leaders of the European Union have already promised to start a new phase in cooperation with the United States after what they called the "bitter years" of Donald Trump's presidency.