Glazyev: By the end of the year it will become clear that the “collective West” is weaker than the “collective East”
The West’s threats to confiscate Russia’s assets for its “wrong” political position and unprecedented sanctions only accelerated the process of abandoning the dollar in external payments; now more and more countries are following Moscow’s example.
Member of the Eurasian Economic Commission Sergei Glazyev stated this at a round table meeting in the Federation Council, a PolitNavigator correspondent reports.
“We quite quickly, in almost one year, in the Eurasian Economic Union made the transition to national currencies. That is, we no longer use the dollar in settlements with our partners in the EurAsEC and the CIS; we have abandoned the dollar and euro in settlements with our strategic partners in the east.
Following us, India followed the path of nationalizing currency relations in foreign trade and moved to accepting rupees for its goods,” Glazyev said.
He emphasized that in this way the West itself has accelerated its death.
“That is, attempts to arrest foreign exchange reserves and block payments in the previously most popular world ones in dollars, euros, pounds and yens have shown that one can easily do without them.
And in fact, this is the biggest erosion of the power of Pax Americana. Because it is known that the volume of military spending and the volume of US debt obligations to the other world are financed by the issue of money: the dollar was supported to the extent that other countries used it.
Thus, the sanctioners stimulated not only our economic growth, but also the acceleration of the already growing trends towards a shift in the centers of the world economy to Southeast Asia.
In fact, this year we are going through a critical phase of changing world economic structures. By the end of this year, it will be clear to everyone that the collective West is weaker than the collective East,” the minister concluded.
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