Russia will continue to reduce the share of the dollar in its national reserves and in settlements with other countries – in the long run it could be replaced by “certain digital assets.” The Kommersant reports, citing Deputy Foreign Minister Alexander Pankin.
According to him, the authorities continue to pursue a policy of dedollarisation of the Russian economy.
“There is no doubt about the advisability of further reducing the share of the dollar in national and international reserves, as well as its use in settlements with foreign partners. At the same time, the US dollar can be replaced by other currencies, both national and regional, and in the long run, probably by some digital assets,” Alexander Pankin noted.
At the same time, Russia does not yet see reasons for a similar reduction in the share of the euro or other fiat currencies.
“Economically it is not economically feasible to replace this currency with any other solely for political reasons. The euro provides acceptable reliability and a level of costs in settlements,” the official added.
Earlier, Alexander Pankin said that Russia could have an alternative to the international cross-border payment system SWIFT, driven by the rapid development of digital currencies and blockchain.
In September, the Russian government confirmed plans to launch a digital ruble by 2030.
Follow ForkLog news on Facebook.