Bullet points of Russia not to blame for diminishing role of dollar – Putin
- Russia is not abandoning the US dollar in trade, but rather was refused the option of using it after the US cut off Russia's central bank from dollar transactions and banned the export of dollar banknotes in 2022.
- The US dollar became the dominant currency after World War II, but its ill-conceived and unprofessional actions are now pushing countries to abandon it, according to President Putin.
- Russia and its BRICS partners are now using national currencies in 65% of mutual trade settlements, with India and China already using national currencies to settle transactions with Russia.
- The BRICS economic bloc was founded in 2006 by Brazil, Russia, India, and China, with South Africa joining in 2011, and Russia currently holds the chairmanship.
- Egypt, Ethiopia, Iran, and the United Arab Emirates joined the group at the start of this year, and Türkiye has formally applied to become a member.
- The US has been accused of using the dollar as a weapon against its rivals by imposing sanctions and freezing assets, making it a 'toxic' currency, according to Russia's top MP.
rt.rus / RT Russia by Layer3.news
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