Russia to reduce the use of US dollar in trade

The speaker of the Lower House of Parliament indicated that the country has gradually reduced its dependence on the US currency

The president of the Lower House of the Russian Parliament, Viacheslav Viktorivich Volodin assured that the country has been gradually reducing its dependence on the dollar.

This is how transactions in national currencies within the space of the Eurasian Economic Union (UEFA) grew by 74 %, according to the president of the Chamber.

The Russian official emphasized that, with this measure, Moscow seeks to increase the use of national currencies in trade with other countries, especially with Turkey and China.

On the other hand, Volodin indicated that the participation of the dollar together with the euro within the National Welfare Fund (FBN) went from 45 % to 35 % in its reserves, while the pound sterling stood at 10 %.

At the beginning of this month, the president of the upper house of the Russian Parliament, Valentina Matvienko, affirmed that the de-dollarization policy, applied under the order of the Russian president, Vladimir Putin, reduced the weight of the US currency in the reserves currency of the country. “So, the process is underway, it may seem slow to some but it is developing progressively”, she said.

K. Tovar

Source: Últimas Noticias

Comments are closed.