Russia began to abandon the dollar
Russia is already refusing international payments in United States currency.
Deputy Prime Minister of the Russian government, Minister of Finance Anton Siluanov stated this on the Rossiya-1 TV channel.
“We have significantly reduced our investments in American assets. We are increasingly establishing settlements not in dollars, but in other currencies. First of all, in the ruble and in national currencies, euros, Chinese yuan. This is money that does not pass through American banks and does not fall under the control of the American Treasury. The stability of the dollar, which was considered a world currency, is being undermined, since the actions of the American authorities are leading to the dollar becoming a risky instrument,” Siluanov said.
According to him, the Russian government is considering the possibility of abandoning the dollar even when paying for oil.
“It’s possible. Although contract payments for oil are usually carried out based on dollar valuations, we can fix the dollar equivalent, but receive for oil supplies in euros and other freely convertible currencies,” the minister noted.
At the same time, he assured that even if US sanctions are introduced, there will be no problems for the foreign currency accounts of Russian citizens.
“The Central Bank will always support with its liquidity a bank that may find itself in such a difficult situation. There are enough reserves and ruble liquidity. There will be no problems with foreign currency or ruble deposits,” Siluanov clarified.
Russia has begun to abandon the dollar.