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De-dollarization takes place in many countries — Kremlin

Russian Finance Minister Anton Siluanov said earlier that Russia will completely abandon the US dollar and will reduce the pound sterling share in the National Wealth Fund’s structure

© Yegor Aleyev/TASS

ST. PETERSBURG, June 3. /TASS/. The de-dollarization process takes place in many countries of the globe in view of doubts regarding reliability of the US currency, press secretary of the Russian President Dmitry Peskov told reporters on Thursday.

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Dollar to be dropped from National Wealth Fund structure within one month, says minister

"This should not be explained by the Kremlin, this should be explained by the government," the Kremlin’s spokesperson said, responding to a request to clarify the decision to completely abandon the US dollar in the NWF structure.

"I can only say the de-dollarization process is continuous. It is already seen by bare eye and this de-dollarization process occurs not merely in our country but also in many countries of the globe, which became concerned in connection with reliability of the main reserve currency," Peskov said.

Earlier on Thursday, Russian Finance Minister Anton Siluanov said that Russia will completely abandon the US dollar and will reduce the pound sterling share in the National Wealth Fund’s structure.

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