Russia proposes “energy ruble” to replace dollars

Russia proposes “energy ruble” to replace dollars

Russian economists proposed a switch from the Bretton-Woods system to energy-based currencies, thus forming a new reserve currency, abc.az reports.The economists want currency rates to be determined according to kilowatts per hour of electricity. They believe that it would end inflation processes and prevent structural imbalances in the world economy and trade.

Russian economists proposed a switch from the Bretton-Woods system to energy-based currencies, thus forming a new reserve currency, abc.az reports.

The economists want currency rates to be determined according to kilowatts per hour of electricity. They believe that it would end inflation processes and prevent structural imbalances in the world economy and trade.

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