In the Russian Foreign Ministry promised to continue the policy of gradually abandoning the dollar and reduce the share of US currency in international reserves and external calculations. About this “Interfax” told the deputy head of the ministry Alexander Pankin.
He stated that at present, “sanction risks and challenges” from the United States remains. According to Pankina, in this background, Russia’s calculations with major trading partners need to be protected, because payments in dollars “pass through American banks and the clearing system, which allows Washington to block any, in their opinion, suspicious transactions.”
“Thus, no doubt is appropriate to continue work to further reduce the share of the dollar in national international reserves, as well as its use in settlements with foreign partners,” said the representative of the Foreign Ministry. He added that in perspective the dollar could be replaced by other foreign currencies and digital assets. At the same time, Pankin recognized that “in fact, the denial of the dollar is connected with certain costs for business and government financial transactions.”
Earlier, the spokesman for the President of Russia Dmitry Peskov called dedollarization, which is conducted in the country, a constant process, which takes place in many states. According to him, the reason for the desire of a number of countries to get rid of the dollar was anxiety about the reliability of the main reserve currency.