Costin asked Putin to help in the fight against the dollar

VTB has prepared proposals to extend the use of the ruble in international settlements. That's what bank president Andrei Kostin said during a meeting with President Vladimir Putin (the minutes of the meeting were published on the Kremlin website) [19659002]. Eurobonds, shares and the creation of other derivatives that are currently used only in the West.

Costin asked Putin to support the course for the de-dollarization and de-orphanization of the Russian economy, as well as the instruction to the government and at the Central Bank to consider the VTB proposals. Kostin did not say what they are exactly in the open part of the meeting.

Russia needs to develop its own financial instruments, said Kostin: this will help protect the Russian financial sector from external factors and give a new impetus to market development. the population is less interested in dollar deposits and loans compared with those of the ruble. According to the banker, it is an important element to continue the de-dollarization of the financial sector.

Kostin does not ask for the first time the expansion of the ruble. For example, in June 2018, at the International Financial Congress, Costin spoke of the need for a global dedollarization of the economy. According to the president of VTB, "the dollar has already scored everything" and he must be fought with him on a global scale.

Every grandmother counts the morning rate and thinks about the currency in which to invest.

Andrey Kostin

President VTB

Kostin called for "re-register" the Russian economy to fight offshore companies. "All of our businesses, including the larger ones, are located in jurisdictions that even me, as a member of Geographical Society, I do not find," worries the banker

. system. The President of the Central Bank, Elvira Nabiullina, spoke of the need to reduce the share of dollar debts and bank badets against the ruble. Banks, among other things, must issue loans mainly in national currency, Nabiullina noted. The government, in turn, seeks to create conditions for the return of property to the Russian jurisdiction and to amnesty the capital.

Since 2015, the population has always maintained over $ 90 billion in bank deposits, but in the spring of 2018, this indicator began to decline. For example, in May, the population kept deposits of $ 87 billion against $ 92.8 billion in December 2017 ., the chief economist of the Alfa Bank, Natalia Orlova, quote data