Putin called the undermining of confidence in the dollar, a huge mistake USA

© RIA Novosti / Alexei Druginderal in Photobacterium of the Russian Federation Vladimir Putin at the international forum Russian power generation week. 3 Oct 2018Putin called the undermining of confidence in the dollar, a huge mistake USA© RIA Novosti / Alexei Druginderal the image Bank

USA admit a colossal mistake, undermining its sanctions policy confidence in the dollar as a reserve currency, said the President of Russia Vladimir Putin.

They declared at the plenary session of the Russian energy week.

«I think that our American partners admit a colossal strategic mistake, undermining the credibility of the dollar as a universal, in fact, only today, reserve currency. Undermine faith in it, as this versatile tool, really sawing off the branch on which you sit», — said the President.

In his opinion, this is a typical mistake of any Empire — «when people think that nothing will happen, all so powerfully, so strongly and steadily that no negative consequences will not.»

«But no, they come sooner or later», — said Putin.

In recent times Russia is increasingly discussed the question of de-dollarization of the economy given the fact that the further strengthening of us sanctions can lead to a ban on payments in dollars. The head of VTB Aleksei Kostin has presented the President with proposals aimed at avoiding the dollar in settlements with international partners. This plan includes four main areas: accelerated transition in calculations on export-import transactions in other currencies, including the Euro, the yuan or ruble; re the largest holdings in the Russian jurisdiction; moves to placement of Eurobonds through a Russian securities Depository; licensing of all participants in the stock market by the same rules work.

While the government noted that they did not plan to completely abandon the dollar, however, are working on the issue of reducing the economy’s dependence on the U.S. currency.

Russian energy week held in Moscow from 3rd to 6th October. MIA «Russia today» is an information partner of the event.
Putin called the undermining of confidence in the dollar, a huge mistake USA© Vitaly Podvecer for money

Source