Posted Date: 28/12/2018
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Russia pushes de dollarization to cope with US containment.

Russia pushes "de-dollarization" to cope with US containment

Reference News Network reported on December 28 Not that we are leaving the US dollar, but the US dollar left us." On November 28, Russian President Vladimir Putin said at the "Russian Calling" annual investment forum.

The Trump administration of the United States has completely confined and suppressed Russia from political, economic, military, and diplomatic fronts. A response measure adopted by the Russian government is to vigorously promote the economy to " de-dollarization ." At present, Russia has made some progress in “de-dollarization”

Economic Union countries

In the import and export trade between Russia and the Eurasian Economic Union countries, 30% and 70% respectively use the ruble to settle. The picture shows workers from the Moscow Mint carrying a good 10 rubles coin. 

Forced helpless

The US dollar was used by the United States in political disputes, which caused damage to the dollar and shook its trust as a reserve currency. Russian media said that "de-dollarization" is becoming a global trend. 

Russia's efforts to reduce the dependence of the economy on the US dollar are the direct driving force. The Ukrainian crisis in 2014 triggered Western sanctions against Russia. In the context of Western sanctions, Russia realized the need to accelerate the "de-dollarization." In the summer of 2018, this issue became more urgent as the US government imposed further sanctions on Russia.

On August 8, the US State Department announced that US Insripar’s father and daughter had decided to impose sanctions on Russia in the case of British poisoning. The measures included prohibiting the United States from exporting hundreds of millions of dollars of weapons, electronic devices and aviation equipment to Russia. In addition, the United States may impose a second round of sanctions against Russia three months later. After the mid-term elections on November 6, the US State Department spokesman confirmed the US plan to impose a second round of sanctions against Russia. 

Analysts at the London-based Barclays Bank pointed out that the main threat to the second round of sanctions is to freeze the accounts and assets of Russian state-owned banks in the United States, prohibiting US financial institutions from doing business with Russian banks, and prohibiting circulation for more than two weeks. Russian Treasury bond business.

Russia pushes de dollarization to cope with US containment.


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