The Kremlin on Saturday stated 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 stated there isn’t a have to hassle concerning 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 stated.
Russia has persistently criticized the U.S. for utilizing its dominance within the international monetary system to impose monetary sanctions, comparable to freezing accounts, prohibiting funds and banning the sale of the greenback, which serves as a world cost foreign money, and influencing fund allocation via worldwide monetary establishments.
The U.S. controls the worldwide system for transmitting data and making funds referred to as 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 beneath U.S. sanctions for nearly all of its trendy 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 nearly lower off from the worldwide monetary system.
In such circumstances, Moscow started searching for options that may permit it to make sure worldwide funds and commerce with different nations, which Washington seen as a “challenge.”
Source: www.dailysabah.com