Putin: Russia has no goal of de-dollarization of its own and the world economy

Russia has no goal of de-dollarization of its own and the world economy. The US economy is a great economy, but the leadership of the country abuses trust. This was stated by Russian President Vladimir Putin at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

“We have never had and do not have the goal of de-dollarization of the Russian economy. And there has never been and there is no goal of de-dollarization or influence on the de-dollarization of the world economy,” he said, answering the moderator’s question.

Putin explained that the impact of a particular currency on the world economy is associated with the economic potential of the country that is the issuer of this currency. The US economy belongs to the world and is great. According to the Russian leader, “this is an obvious merit of the American people.”

Today, Putin continued, the US authorities are abusing the trust of Americans. He noted that in the pursuit of political goals, the United States “undermines its power, including in the field of global finance.” According to the Russian president, Washington is using the dollar “as an instrument of armed struggle” and thereby creates doubts about the reliability of the currency.

In autumn 2022 Putin named inevitable process of de-dollarization. Then he said that the authorities need to create all the conditions for further structural restructuring of the Russian economy.

In April this year, Russian Foreign Minister Sergei Lavrov notedthat the “flight from the dollar” is “not very fast” yet, and assumed that this process will accelerate. Later, Lavrov said that the main culprit in the beginning of de-dollarization is the United States itself. The IMF also previously reportedthat observe a gradual decline in the role of the dollar in the global economy. At the same time, IMF Managing Director Kristalina Georgieva added, there will be no alternative to this currency in the near future.