US Dollar Unreliable as Payment Currency in Defense Industry – Russian Official

“Today, there are a lot of questions relating to use of the US greenback as the primary forex for funds for export contracts… What goes in the world in the present day exhibits us that the greenback is unstable, so there is no such thing as a certainty of what’s going to occur to it tomorrow. This complete state of affairs, coupled with the sanctions imposed on us and our companions, makes us take into consideration the necessity to discover different fee choices,” Shugaev mentioned.

He famous that the partial transition to nationwide currencies was already a determined matter.

READ MORE: Switching From Dollar to Gold: Iran Continues Its Struggle With US Oil Embargo

Relations between Russia and the United States have been deteriorating since 2014, when the disaster in Ukraine broke out. Washington and its allies, together with the European Union, have since launched a number of rounds of sanctions over Crimea’s reunification with Russia and Moscow’s alleged involvement in the Ukraine battle. Russia has refuted all of the accusations and brought retaliatory financial measures.

Original article

Author: skvaller

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