Putin: Russia can “carefully” abandon the dollar
The United States itself is pushing other countries to abandon payments in dollars.
Russian President Vladimir Putin said this, speaking today at the St. Petersburg Economic Forum, according to a PolitNavigator correspondent.
“Stability, predictability and reliability are important. Currency is not important. But if the issuer, the United States, does not value its national currency as an international reserve and uses it as a competitive element, this damages the currency. Payments in dollars in the world are declining,” Putin said.
According to him, there is a high probability that payments for gas will be made in national currencies, but if such a situation develops in the oil market, it will be catastrophic for the dollar.
“Our operators still prefer transactions in dollars. Although oil is more pegged to the dollar, because oil is a commodity commodity. Gas is not a commodity. We are ready to consider the possibility of settlements in national currencies; we do this with many countries, with our partners. We are ready to talk about payments in euros. The euro is absolutely acceptable for us in gas payments. This can and should be done.
But if oil workers move away from paying in dollars, this will be a very serious blow to the dollar as a reserve currency. Very serious. We do not want to use these tools in some kind of political fuss and do not intend to do so. But the logic of the development of the world economic system suggests that a plurality of reserve currencies is needed for security purposes. We are thinking carefully about this,” Putin noted.
Let us remind you that the Government of the Russian Federation has decided to completely abandon investments of the National Welfare Fund (NWF) in dollar assets.
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