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According to the head of state, the US currency itself loses badets. According to Putin, "those who remove the dollar from Russia do not shoot in the leg, but a little higher."
We have no goal of giving up the dollar, the dollar is going away. And those who make the right decisions are disoriented, but already a little higher, because this instability of dollar payments is prompting many economies around the world to find alternative reserve currencies and to create payment systems independent of the dollar. .
Vladimir Poutine
Russian President
In October, the government announced that it was working on reducing the dependence of the Russian economy on the dollar, including stimulating payments in national currencies. At the same time, the authorities do not plan to ban currency transactions and the circulation of the dollar. The dedollarization is called to mitigate the shock if new sanctions target the Russian financial system. According to the Wall Street Journal, the dedollarization of the Russian economy is already bearing fruit: the share of foreign currency deposits of individuals and legal entities in Russian banks in September 2018 has fallen to 26%.
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