All news

Putin urges to strengthen national economic sovereignty

The dollar monopoly is unreliable, Putin stressed

MOSCOW, May 8. /TASS/. Russian President Vladimir Putin considers necessary to strengthen the national economic sovereignty and anti-Russian sanctions are helpful in this aspect.

"We need to increase the level of our economic sovereignty but this is not a straightforward decision," the head of state said. "Oil is traded in dollars on the exchange," Putin said. "Certainly, we are thinking about what we need to do in order to get free of this burden. Furthermore, our partners are helping us by introducing all these unlawful restrictions and violating principles of the global trade, because the whole world sees the dollar monopoly is unreliable; it is dangerous for many, not only for us," he added.

"This is not merely a separation from the dollar; this refers to the need of strengthening our economic sovereignty," Putin said.

"Our gold and foreign currency reserves undergo diversification and we will continue to do it," he added.