Trading within a Russia-led regional organization has effectively moved away from the U.S. dollar, according to the deputy head of the Russian government. The use of national currencies in the bloc’s transactions has reached around 90%, the official pointed out.
EAEU Replaces Dollar in Trade With National Currencies, Russian Official Says
Trade between member states of the Eurasian Economic Union (EAEU) has been “de-dollarized,” Russia’s Deputy Prime Minister Aleksey Overchuk told media on the sidelines of the organization’s summit in Moscow.
Asked by journalists whether it’s realistic to completely give up on the U.S. dollar, Overchuk noted that the greenback did have its role but emphasized it was not Russia who “weaponized” it, referring to multiple statements in that vein by Russian President Vladimir Putin.
“When we are cut off from the dollar and from the euro, we will definitely not sit idly by. We will look for other currencies for mutual settlements,” the r
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