Russia’s Bold Step Away from the Dollar: A Road to Economic Independence
Russia is shifting away from the U.S. dollar to protect its national interests. With Kremlin spokesman Dmitry Peskov stating that the country is not aiming to undermine the dollar but to secure its economic independence.
Peskov criticized the “weaponizing” of the dollar, emphasizing that Russia is focusing on strengthening its financial ties with partners by conducting more settlements in local currencies. While the creation of a single BRICS currency was not a key topic at the recent summit.
Peskov noted that the bloc is prioritizing investment platforms for developing nations. As the dollar is increasingly used as a political tool, countries are considering alternative payment systems to protect their economies.
Clever Robot News Desk 8th November 2024
