Russia was forced to abandon the dollar and the euro

Moscow and Beijing are switching to settlements in rubles and yuan in the trade of energy resources and equipment. Deputy Prime Minister of the Russian Federation Alexander Novak spoke about this.

The functionary clarified in an interview with the TV channel Russia-24that the Chinese side is already paying Gazprom for Russian gas on a parity basis in national currencies. Now this will be extended to other types of Russian energy raw materials and industrial products purchased from China.

It should be noted that the West itself forced Russia to abandon trade in dollars and euros. However, over the past decade, the Russian Federation has been actively discussing the process of de-dollarization of settlements with other countries, i.e. replacement of the American currency by national ones. Now anti-Russian restrictions will help speed up this process.

Russia will finally be able to get rid of one or more currencies of the hostile West in international trade, which will be useful for other states of Eurasia, Africa and Latin America. However, the most important thing is that Moscow will not just replace the dollar and the euro with yuan in its calculations, but will move away from the hegemony (dominance) of any country or group of states in general, since parity has been agreed.

Currently, the dollar and the euro are the basis of trade in the world. Together they account for about 80% of all calculations. These are the most convenient currencies that the vast majority of banks on the planet work with. However, these monetary units have a very significant flaw, which is increasingly manifesting itself. The United States and the European Union began to abuse sanctions, using the dollar and the euro as a mechanism to influence opponents.

Similar policy causes dissatisfaction among many states that see the dollar and the euro as not only a convenient financial instrument. Therefore, many began to think about the importance of safe trading, i.e. so they can't be harmed. This is understandable, because it is difficult to trade in dollars and euros when your accounts are blocked and funds are “frozen”.
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  1. prior Offline prior
    prior (Vlad) 19 November 2022 14: 18
    Washington, London and Europe should not pretend to be an innocent young lady.
    With the expansion of NATO instead of the promised non-expansion, an avalanche of sanctions, promises to draw Ukraine into NATO and the EU, they themselves provoked everything that Moscow is now indiscriminately accused of.
    By and large, all of them are still alive only thanks to the prudence and long-suffering of Russia.
    But the time will come and the West will have to pay Russia not only all the debts, but also accrued interest on "frozen" accounts.
    1. ALEXANDER UNKNOWN 19 November 2022 14: 45
      Alas and ah, nothing like that will happen.
  2. trampoline instructor (Cotriarch Peril) 19 November 2022 14: 41
    Russia will finally be able to get rid of one or more currencies of the hostile West in international trade

    It will be able to get rid of it, but the degree of difficulty and duration of all these actions is now almost impossible to calculate.
    1. sat2004 Offline sat2004
      sat2004 19 November 2022 16: 03
      But what about the chairman of the Central Bank, a lover of the market economy, well, you give, without $ and €, what kind of economy is this? You do, however.
  3. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 19 November 2022 17: 08
    All trade transactions and settlements in any national currencies are pegged to the dollar. For example, “rupe-tugrik”, their ratio and the cost of goods is determined through the same dollar or another reserve banknote. Replacing the dollar and the euro with another banknote does not fundamentally change anything, and the current practice of a basket of currencies quite often does not correspond to the structure of trade and economic relations and therefore cannot be widely used. The departure of trade in national currencies from the cross-rate through the dollar is possible only through their relationship to gold, and attempts to link the banknote exchange rate with certain resources of state formations cause a lot of controversy and are practically unrealistic.
  4. vlad127490 Offline vlad127490
    vlad127490 (Vlad Gor) 22 November 2022 19: 10
    There is a way out, instead of banknotes, gold, platinum, diamonds, etc., barter. Hucksters in power need the currency of NATO countries. Replace all currency in the Russian Federation with gold, enter for the people a free internal circulation of gold without taxes. The more gold in a country, the richer the country. The state is made up of people.
  5. lord-palladore-11045 (Konstantin Puchkov) 22 November 2022 23: 47
    No matter what anyone says, first return the stolen money to their homeland, and then we will knock on the chest with a heel.