Russia’s permanent representative to the United Nations, Vasily Nebenzia, stressed that Russia cannot rely on the dollar as a global currency in light of the Western sanctions policy.
In an interview with “Novosti” agency, he indicated that the process of abandoning the dollar by the global economy is under way, and Nebenzia said, “The process of transitioning in mutual settlements between countries to national currencies reflects the desire of countries to get rid of dependence on the dollar.”
The official recalled previous statements by Russian Foreign Minister Sergey Lavrov about the dollar, in which he said that the United States declared that the dollar currency is the common property of the whole world, but then imposed a variety of coercive measures not only against Russia but against other countries.
Nebenzia stressed that Russia cannot rely on the dollar as a global currency under these circumstances, and Russia’s permanent representative to the United Nations did not provide expectations about when the global economy will abandon the dollar, but he said that “the process of abandoning the American currency is underway, of course.”
According to Nebenzi, the Russian currency showed resilience in the face of shocks that the West relied on for the ruble to occur, and he stressed that “thanks to the policy of the Russian financial and economic authorities, this did not happen.”
Russia has been working for years to reduce its dependence on the dollar due to the United States using the currency as a tool of sanctions, and the US public debt has reached an astronomical level.
This article was originally published by RT.