According to Putin’s press Secretary, this question is not discussed “anywhere else”. So Dmitry Peskov commented on statements of the head of VTB Andrey Kostin
(Photo: Alexander Ryumin / TASS)
The Kremlin has not discussed the issue of forced conversion of dollar deposits because of the sanctions against Russia, said the press Secretary of the President of Russia Dmitry Peskov, reports TASS.
“No, this is not part of the administration [of President], this is not, as far as I know, anywhere else,” said Sands.
However, he noted that “the theme of de-dollarization is being actively discussed not only in Moscow but throughout the world.” He explained that countries are looking for ways to “provide for and ensure the reduction of the dollar in mutual calculations in the implementation of commercial transactions, investment, trade, and economic”. “This is the beginning,” — said Peskov, noting that “quite consistent and strong disposition” gradual minimize of the dollar in mutual momentum is in many countries.
The head of VTB suggested a plan to abandon us dollar
According to Peskov, this situation has become natural reactions “sufficiently unpredictable actions of the United States, is quite controversial from the point of view of norms and rules of international trade decisions.” “Confidence in the dollar gradually falls, and there is a steady desire to replace the dollar with other currencies,” concluded Sands.
Press Secretary of the head of state added that Russia “is a question that is on the agenda”, but no clear plans for it yet.
Previously, the plan for de-dollarization suggested that the head of VTB Andrey Kostin. He also said that the banking sector will be able to cope with the consequences of the introduction of new US sanctions against Russia. He clarified that the discussed measures have to protect the interests of the owners of deposits in dollars, if the us authorities to impose an effective ban on the use of dollars by banks of Russia.
In July Kostin called “to begin to deal [with the dollar] on a global scale” and asked President Vladimir Putin to support dedollarization. However, the head of state said then that Russia does not intend to do sharp movements and to completely abandon the American currency.
According to analysts of Moody’s Investors Service, may eventually decrease the need for the use of the dollar in global trade could shrink its share in the reserves of countries. However, this alternative dollar currencies have become more attractive, experts say.