[ad_1]
Russian President Vladimir Putin said on Friday that "political disputes" were damaging the dollar as a reserve currency shortly after Moscow's exit from the list of major foreign holders of US public debt.
"Many countries around the world say we need to create new reserve currencies – this will make the global economy more stable," he told reporters in Johannesburg at a press conference after the top leaders of the BRICS countries. With respect to our US partners and the restrictions that they have put in place, especially with regard to dollar payments, it's a big strategic mistake because it undermines confidence in the dollar, " he said
we see what happens to these illegal sanctions, "he added, regarding the annexation of Crimea and support for Russian-speaking separatists in Ukraine, measures imposed by Washington on Moscow.
In May, Moscow detained $ 14.9 billion in treasury bills, well below the $ 48.7 billion held by Russia in April
"Russia is abandoning not the dollar, "he added. Russia would drop the US dollar in favor of the Chinese yuan.
But he said that "political disputes" "are damaging the dollar as the world's reserve currency."
"The yuan, of course, acquires the qualities (of a reserve currency) .If it is able to convert freely, it will speed up the process," he added. AFP)
[ad_2]
Source link
