Putin: US is making a mistake by limiting dollar payments around the world
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Russian President Vladimir Putin said that by limiting the use of the dollar to some countries, the United States is making a huge mistake and hurting itself. The president said this in an interview published in Telegram channel Kremlin.
“We would use the dollar. They (USA.— “b”) are not given to us. How can we do the calculations? In the currency that is acceptable to our trading partners. The yuan is one such currency, especially since it is also used by the IMF,” Vladimir Putin said.
In his opinion, the United States “saw the branch on which they sit.” The President believes that Washington is hurting itself by limiting the use of the dollar, based on “momentary market considerations.”
On February 24, 2022, the day the armed conflict in Ukraine began, US President Joe Biden announced that Washington would limit the ability of Russian businesses to conduct transactions in dollars and euros. At the same time, already in 2018, the Russian government discussed plan to de-dollarize the economy.
The share of the Chinese currency in export settlements, which did not exceed 0.5% in January 2022, by December increased up to 16%. The share of settlements on exports in the currencies of “unfriendly” countries (mainly in dollars and euros) decreased from 87% at the beginning of 2022 to 48% at the end, the Bank of Russia reports.
Read more in the publication of the application “Money” “Russia has bet on the yuan”.
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