Russia will stop using the dollar and the euro in commercial transactions

Russian Deputy Foreign Minister Alexander Pankin said Friday that the country will stop using the dollar and the euro in international trade and economic relations

Russia will stop using the dollar and the euro in its international trade transactions, Russian Deputy Foreign Minister Alexander Pankin announced on Friday.

According to the statement by the Russian official, “the only way to guarantee the stability of trade, economic and investment relations between Russia and its partners is to stop using the currencies that have become ‘toxic’, mainly the US dollar and the euro.”

Pankin assures that the most convenient thing for Russia is to adopt alternatives to these currencies, particularly “national currencies”, as a way of rejecting what they consider a hegemony created by Washington in the world financial system.

The Russian deputy minister added that the current system benefits a group of countries and is inappropriate for the “multipolar world order.” In this sense, he pointed out that some nations are studying de-dollarizing their economies as a protection measure against United States sanctions.

Given this scenario, it is important to point out that the Russian Central Bank is currently studying the possible combination of currencies, such as the yuan, the rupee and the lira, which would be incorporated into the Wealth Fund under a budgetary mechanism based on the surplus of energy sales.


Click the link to subscribe for free to our news and media group on Telegram:


Comments are closed.