Russian Deputy Foreign Minister Says Use Of Dollar As Priority Currency Questionable

MOSCOW (UrduPoint News / Sputnik - 05th April, 2021) The declining predictability of US policy casts doubts on the reliability of the use of the US Dollar in mutual trade operations, Russian Deputy Foreign Minister Aleksandr Pankin told Sputnik.

According to Pankin, the reduction in the use of the dollar is a reaction to the current geopolitical situation.

"The decrease in the predictability of the US economic policy and their uncontrolled introduction of unreasonable restrictive measures call into question the reliability and convenience of using the American Currency as the priority currency in contracts," Pankin told Sputnik.

The deputy foreign minister said that in such a situation, companies and countries are forced to take measures to minimize economic losses and transaction risks.

"In this light, the expansion of the use of national monetary units in trade operations with other states is becoming increasingly relevant and becomes an important area of the current foreign economic agenda," Pankin said.