> They are reliant on it. The US is still the currency used for trade. The world economy is tied to the dollar and outside of countries we've sanctioned no country has made large steps towards using something else because using something else would be more complicated and would cost them money

What happens when you "sanction" a significant portion of the world because they don't share your "values" or want to play ball elsewhere ? Well guess what ? These countries will inevitably look at each other and form their own trade routes and alliances.

Unfortunately, no hegemony is eternal.