Russia continues policy of gradual de-dollarization

Russia continues policy of gradual de-dollarization

Amid Washington's sanctions, Moscow pursues the policy of gradual de-dollarization of its economy and expansion of settlements in national currencies, Russian Foreign Minister Sergey Lavrov said.

The minister stressed that "together with our main partners, including India," the Russian government works on developing economic and legal mechanisms to reduce the negative impact of restrictions on bilateral trade and investment ties.

The top Rusian diplomat also noted that one of Russia’s priorities is to expand settlements in national currencies. "Relevant intergovernmental agreements on settlements and payments were concluded with China and Turkey last June and October," he said, noting that within BRICS, agreements were reached on the mutual opening by the Central Banks of relevant correspondent accounts.

"We consider that de-pegging from the dollar in mutual settlements is an objective response to the unpredictability of the U.S. economic policy and the outright abuse by Washington of the dollar's status as a world reserve currency," TASS cited Lavrov as saying.

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