"Real process": where is the Kremlin in its intention to get rid of the dollar?


Economy15: 13 14.09.2018 (updated 15:15 14.09.2018) short URLMoscow a already started the process of abandoning the dollar, said the spokesman of the Russian President. However, according to him, the Russian authorities have, for the moment, no specific project. Russia is already abandoning payments in dollars, said Kremlin spokesman Dmitry Peskov. In his opinion, the intention to reduce the use of the dollar stems from the unpredictability and contestability of US measures from the point of view of international law. Nevertheless, the Russian authorities have not yet developed specific plans in this area.
"This is just the beginning of this process, but there are already consistent and firm intentions from many countries in Europe, the Middle East and the Middle East to minimize the use of the dollar in their trade. This is a real process. The Russian side does not yet have specific projects but this issue is on the agenda, "he said.
Peskov said the dollar's abandonment was a "very essential" process since US measures, including trade, undermined the reliability of their national currency.
Andrei Kostin, director of the Russian bank VTB, presented this Friday in an interview with the Russian newspaper Izvestia his plan to abandon the dollar. According to him, it is first necessary to accelerate the transition to national currencies in bilateral trade. He also proposed to transfer Russian companies, especially those sanctioned by Washington, under Russian jurisdiction as well as to create a Russian depository of Eurobonds. The fourth point of this project is to unify the securities market rules.