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MOSCOW, August 20 (RHC) – Russia will abandon the use of the dollar and the euro in the sphere of international trade, economic and investment relations amid rising tensions with Western countries, Russia’s Deputy Foreign Minister announced on Friday Minister Alexander Pankin in an interview with TASS.
“Against the background of growing geopolitical pressures from the ‘collective West’, the only way to ensure the stability of trade, economic and investment relations between Russia and its partners is to use ‘toxic’ currencies, primarily the US -dollars, and the euro,” said Pankin, who advocated choosing “acceptable alternatives,” referring in particular to “national currencies.”
The senior diplomat pointed out that the financial system that currently dominates business was created by Washington and is more “a tool for achieving the political goals of a group of countries” while “hardly appropriate for a multipolar world”. .
In addition, the deputy minister stressed that many states, having recognized the illegitimacy of the unprecedented sanctions imposed on Moscow, are considering “de-dollarizing” their economic activity in order to protect their own sovereignty.
“It is quite evident that in the current environment, the West intends to further abuse its privileged position,” Pankin warned. As he explained, the path to refusing to use the dollar in multinational trade is a “fairly solvable” task as long as the “political will” is there. (Source/RT)