Reduced Use of Dollar in Transactions Is Reaction to Geopolitical Situation, Russian Deputy FM Says


Russian Foreign Minister Sergey Lavrov earlier said that the risks posed by US sanctions need to be alleviated by switching to alternative currencies and moving away from using the dollar, and underlined the need to switch to payments in national currencies and in world currencies, instead of the dollar.

The declining predictability of US policy casts doubts on the reliability of the use of the US dollar in mutual trade operations, Russian Deputy Foreign Minister Alexander Pankin told Sputnik on Sunday.

“The decrease in the predictability of the US economic policy and their uncontrolled introduction of unreasonable restrictive measures call into question the reliability and convenience of using the American currency as the priority currency in contracts,” Pankin told Sputnik.

“In this light, the expansion of the use of national monetary units in trade operations with other states is becoming increasingly relevant and becomes an important area of ​​the current foreign economic agenda,” Pankin said.

Lavrov has also said that the administration of US President Joe Biden is sticking to the same sanctions policy as former administrations.


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