Putin announced the inevitability of the process of de-dollarization

The process of de-dollarization is inevitable, Russian President Vladimir Putin said at a meeting on economic issues.

“We have disputes about what to pay more attention to, where to allocate more funds or save more and create a “safety cushion”, how to create it in the new conditions and what is a “safety cushion” in modern conditions, when we have a well-known and inevitable process de-dollarization, quotes head of state, the press service of the Kremlin.

Putin drew attention to the fact that in the current conditions, the unconditional priorities of the government should be to focus on the development and implementation of national projects in the interests of citizens.

“We need to create all the conditions for restructuring the economy, or, so to speak, for further restructuring, including the implementation of large technology projects, the growth of economic activity and the development of infrastructure in the Russian regions, and the creation of new jobs,” he said.

Former chapter VTB Andrey Kostin declaredthat now there is a clear de-dollarization and more and more transactions are carried out in rubles. Banks that work with dollars and euros feel uncomfortable, which is why fees are introduced for their storage, he stressed.

At the plenary session of the Eastern Economic Forum (WEF) head of state also emphasizedthat, in general, Western countries have undermined the pillars of the world economic system, which has been built over the centuries: “lost confidence in the dollar, euro and pound sterling” as currencies in which to make payments, store reserves and nominate assets. Here he noted that on September 6 “Gazprom” and its Chinese partners decided to switch to the ruble and yuan when paying for gas supplies.

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