Lavrov: shift to settlements in national currencies cannot be stopped

The shift to settlements in national currencies bypassing the dollar can no longer be stopped, Russian Foreign Minister Sergey Lavrov told a press conference following a visit to New York as part of Moscow's presidency of the UN Security Council.

"The Americans have started the de-dollarization process. Already now this process is being analyzed particularly by American political analysts and economists with deep concern," he said.

According to Lavrov, the shift to settlements in national currencies bypassing the dollar, the euro and the yuen, to digital currencies can no longer be stopped.

"The future of the international currency financial system, including the International Monetary Fund (IMF), the World Bank, remains to be seen," the minister emphasized.

Earlier, Indonesia’s authorities said that ASEAN countries planned to shift to settlements in national currencies. Moreover, it was reported that BRICS were considering the possibility of creating a common currency for reducing the reliance on the dollar.