Putin Says US Dollar Is Undermining Its Position As The World's Reserve Currency

MOSCOW (UrduPoint News / Sputnik - 14th October, 2021) The US Dollar is undermining its position as the world's reserve Currency, Russian President Vladimir Putin said in an interview with the CNBC broadcaster posted on the Kremlin website.

"It is undermining its position as the world's reserve currency. The volume of settlements in Dollars is shrinking, and the volume of personal reserves of the world's countries in dollars is also reducing," Putin said.

"But we are not interested in completely stopping payments in dollars, and so far we are satisfied with, say, payments for energy resources in dollars, primarily for oil. But if the policy of the American authorities continues as I have already mentioned, then we will not have to do anything, the United States will itself undermine confidence in the dollar," he said.

Putin said the United States, when using the US dollar as a sanctions tool, is making a big mistake and is harming itself.