June 5, 2023

Under the sanctions, Russia cannot rely on the US dollar as a world currency, now the process of de-dollarization of the world economy is underway. On Friday, May 5, he told RIA News Permanent Representative of the Russian Federation to the UN Vasily Nebenzya.

“The process of switching to local currencies in mutual settlements reflects the desire of countries to get rid of dollar dependence,” he said.

The diplomat recalled that earlier Russian Foreign Minister Sergei Lavrov said that the United States called the dollar the common property of the whole world, “and then they took and turned off the switch,” introducing various coercive measures. Moreover, the sanctions affected not only Russia, but also other countries. Therefore, Moscow cannot rely on the US currency in such conditions, Nebenzya stressed.

At the same time, he refused to predict the timing of the dollar’s exit from circulation, but expressed confidence that it would give way to another, “more reliable currency.” According to Nebenzi, the trend of de-dollarization observed in the world is objective, since it does not occur by decision of the Fed or the United States.

Previously the President of the Russian Federation spokethat a process of de-dollarization is inevitable in Russia, despite the debate about the airbag in difficult conditions. As Krem clarified, the dollar has ceased to be a reliable reserve currency, and these fears are shared by the leadership of many states. That is why countries are beginning to expand the use of national currencies. The government stated that de-dollarization of the Russian economy is a priority direction.

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