Russian Diplomat Says Asia-Pacific Countries Highly Ready To Switch To Non-Dollar Trade
Mohammad Ali (@ChaudhryMAli88) Published April 05, 2021 | 12:10 PM
MOSCOW (UrduPoint News / Sputnik - 05th April, 2021) Asia-Pacific countries are highly ready to switch to non-dollar mutual settlements, with African and Latin American nations also showing interest in discussing the matter, Russian Deputy Foreign Minister Alexander Pankin said in an interview with Sputnik.
The Russian government has repeatedly pointed out that Washington's sanctions policy undermines confidence in the dollar, reduces national reserves investment in the US public debt, and contributes to increasing the volume of foreign trade in rubles and other currencies. At the same time, the Russian authorities assure that the de-dollarization policy does not envision a ban on Dollar circulation, it only involves creation of economically beneficial conditions for the use of other currencies.
"Russia is developing enhanced cooperation on the matter with its partners from the Asia-Pacific region, where the readiness to switch to mutual settlements in national currencies or other currencies apart from the dollar is quite high.
Many Latin American and African countries are also showing growing interest in discussing the possibility to increase the share of national currencies in mutual settlements with Russia," Pankin said.
According to the diplomat, promotion of relevant effort within the Eurasian Economic Union and the Commonwealth of Independent States would be effective, as a certain level of integration has been already achieved and there is some experience in carrying out transactions in national currencies. Apart from that, Russia is engaged in dialogue with the BRICS nations, Pankin added.
Russia continues its effort to synchronize national payment systems with foreign nations, such as China and Japan, the deputy foreign minister went on to say.
Related Topics
Recent Stories
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
More Stories From Business
-
Machinery equipment assembling grew by 70.98% in 08 months
18 minutes ago -
Gold rates up by Rs.2,500 per tola to Rs245,000
28 minutes ago -
Miner Anglo American rejects BHP's $38.8 billion takeover bid
58 minutes ago -
Exchange rates for currency notes
3 hours ago -
Foreign exchange rates
4 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
4 hours ago
-
Today Gold Rate in Pakistan 26 April 2024
4 hours ago -
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
13 hours ago -
Pak-US officials engage to enhance trade, investment ties
14 hours ago -
Stocks fall as tech shares sink, US economy slows
15 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
16 hours ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
16 hours ago