Cut Off: How US Sanctions are Reshaping the Global Payment System

US sanctions on Russian banks have complex spillovers for the importers and exporters who transact in dollars. On this episode of The Pie, Brent Neiman, the Edward Eagle Brown Professor of Economics at the University of Chicago's Booth School of Business, returns to discuss recent research tracing how those sanctions ripple through the global payments network, and whether they are pushing heavily sanctioned economies away from the dollar and toward China's yuan.