> So I guess USD needs to be recognized by the US somehow? You could start here: https://www.federalreserve.gov/releases/h41/20220224/ https://www.federalreser

> So I guess USD needs to be recognized by the US somehow? You could start here: https://www.federalreserve.gov/releases/h41/20220224/ https://www.federalreserve.gov/releases/h41/20220224/ H.4.1 is a really useful and important data set. For example, you can see that US Fed is holding T2.7$ worth of mortgage backed securities i.e., it's funding them. > Could the US simply "void" all USD that are owned by Russia? Beyond a certain threshold those USDs are typically stored as US Treasury bills because it's too risky to deposit billions of $$ in bank accounts. The risk of bank going under is real at those deposit levels. For anything more I highly recommend reading up Fed Guy blog [1]. It's one of the best sources of this information I've come across; he's extremely concise, no-jargon and explains the core principles really well. While at it, take a look at this BIS data[2]. tl;dr Russian residents owe ~B121$ to other countries' banks. [1] https://fedguy.com https://fedguy.com [2] https://stats.bis.org/statx/srs/table/b4?c=RU https://stats.bis.org/statx/srs/table/b4?c=RU