The Russian Foreign Ministry promised to move away from the use of the dollar and the euro
Russia will soon move away from the “toxic” dollar and euro. This was stated by Deputy Foreign Minister of the Russian Federation Alexander Pankin.
“Against the backdrop of the growing geopolitical pressure of the“ collective West ”, the only way to guarantee the stability of trade, economic and investment ties between Russia and its partners is to avoid the use of currencies that have become“ toxic ”, primarily the US dollar and the euro,” Pankin told TASS. According to him, the country will switch to settlements mainly in national currencies.
According to Pushkov, the current model of the global financial system, created by the United States, has shown itself to be “unsuitable for the conditions of a multipolar world order and, in fact, has become a tool for achieving the political goals of one group of countries.” He noted that it is gratifying to see how many countries are thinking regarding the de-dollarization of foreign economic activity.
Earlier, experts from the HSE Faculty of World Economy and International Affairs predicted declining role of the US dollar in the global financial system. However, candidate of economic sciences Galina Kuznetsova believes that Russia will not be able to completely abandon the dollarbecause it is a member of the International Monetary Fund (IMF) and has reserves that are pegged to the US currency.
Russia will soon move away from the “toxic” dollar and euro. This was stated by Deputy Foreign Minister of the Russian Federation Alexander Pankin. “Against the backdrop of the growing geopolitical pressure of the“ collective West ”, the only way to guarantee the stability of trade, economic and investment ties between Russia and its partners is to avoid the use of currencies that have become“ toxic ”, primarily the US dollar and the euro,” Pankin told TASS. According to him, the country will switch to settlements mainly in national currencies. According to Pushkov, the current model of the global financial system, created by the United States, has shown itself to be “unsuitable for the conditions of a multipolar world order and, in fact, has become a tool for achieving the political goals of one group of countries.” He noted that it is gratifying to see how many countries are thinking regarding the de-dollarization of foreign economic activity. Earlier, experts from the HSE Faculty of World Economy and International Affairs predicted a decline in the role of the US dollar in the global financial system. However, economics candidate Galina Kuznetsova believes that Russia will not be able to completely abandon the dollar, since it is a member of the International Monetary Fund (IMF) and has reserves that are pegged to the US currency.
