Putin orders to prepare Russia's financial market for settlements in national currencies

Putin orders to prepare Russia's financial market for settlements in national currencies

Russian President Vladimir Putin urged to speed up the process of the complete rejection of the dollar and euro in foreign trade and switching to national currencies instead.

Speaking at a meeting with the government in Moscow, Putin noted that Russia has already been taking some steps to transit payments for the energy resources to national currencies to leave the payments in dollars and euros. He instructed the government to prepare the Russian foreign exchange market for such a transition so that it is possible to exchange freely and in the required volume any foreign currency for Russian rubles.

"In general, we intend to radically increase the share of settlements in national currencies in the foreign trade system. I repeat: the rejection of unreliable, compromised currencies and jurisdictions is a strategic task from the point of view of the financial and economic security of our country, important for maintaining and increasing the volume of foreign trade, establishing stable ties with predictable partners who are true to their word and value their business reputation, understand the consequences of their decisions," the head of state said.

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