The Kremlin on Saturday mentioned Russia was engaged on a brand new system of financial relations with different nations because the U.S. dollar-based mechanism proves to be “unreliable, false and dangerous.”
Speaking at a press briefing in Moscow, Kremlin spokesperson Dmitry Peskov mentioned there isn’t any have to trouble in regards to the greenback system weakening for the reason that U.S. itself is undermining it via its actions.
“Russia is building a new system of economic connections because the previous system turned out to be unreliable, false and dangerous. Russia is looking for an opportunity to develop alternatives,” Peskov mentioned.
Russia has persistently criticized the U.S. for utilizing its dominance within the world monetary system to impose monetary sanctions, resembling freezing accounts, prohibiting funds and banning the sale of the greenback, which serves as a world cost forex, and influencing fund allocation via worldwide monetary establishments.
The U.S. controls the worldwide system for transmitting info and making funds often called SWIFT, and is house to 2 of the world’s largest monetary establishments, the World Bank and the International Monetary Fund (IMF).
According to President Vladimir Putin, Russia has lived underneath U.S. sanctions for nearly all of its fashionable historical past.
However, when Moscow launched its invasion of Ukraine in February 2022, the U.S. and its Western allies imposed harsh sanction packages and Russia discovered itself virtually reduce off from the worldwide monetary system.
In such circumstances, Moscow started in search of alternate options that will enable it to make sure worldwide funds and commerce with different nations, which Washington considered as a “challenge.”
Source: www.dailysabah.com
