Young Journalists Club | Latest news of Iran and world

News ID: 51102
Publish Date: 11:35 - 22 March 2021
Russia and China need to work to further reduce their dependence on the dollar and switch to national currencies for trade in order to alleviate the risks of US sanctions, says Russia’s top diplomat.

Russia, China need to move away from dollar to reduce risks of US sanctions: LavrovIn an interview with Chinese media, Russian Foreign Minister Sergey Lavrov said that Moscow and Beijing “need to move away from the use of Western-controlled international payment systems.”

“We need to reduce sanctions risks by strengthening our technological independence, by switching to payments in national currencies and in world currencies, alternative to the dollar,” he added.

Lavrov said Washington and its Western allies are no longer capable of using classical diplomacy, so they resort to sanctions on the international arena.

“They are promoting their ideologized agenda aimed at maintaining their dominance by holding back the development of other countries.” He noted.

“This policy runs counter to the objective trend and, as it was customary to say, is ‘on the wrong side of history.’ The historical process will still take its toll,” he added.

Speaker of the Russian State Duma Vyacheslav Volodin said earlier this month that Moscow was gradually reducing the share of the US dollar in its economy and foreign exchange reserves.
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