Current Events

The Dollar is Demonetised and becoming a rogue currency

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The United States is helping Russia to de-dollarize the economy. This was announced on January 26 by Russian Foreign Minister Sergei Lavrov at a plenary meeting of the State Duma (Russian Parliament, Moscow).

‘We are striving to reduce dependence on the dollar and succeeding remarkably well. The Americans are actively helping us in this, because they themselves are doing almost everything possible to undermine confidence in this currency and make it risky for international settlements in general, not only by the Russian Federation but also by any other country in the world,’ Lavrov said.

‘Look how they antagonise and demand to stop cooperation in the military-technical sphere from our partners, such as India, Egypt, rather big countries, Turkey,’ he said.

The minister noted that Russia is stimulating the transition to settlements in national currencies thereby cutting trading by the US dollar out.

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‘This is already beginning to cause alarming discussions in the West among political scientists and economists. And thirdly, we are reducing our foreign exchange reserves, sharply reducing our foreign exchange reserves, which are stored in dollars,’ Lavrov said. Source

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