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Dollar will continue to function in Russia after changes in National Wealth Fund — expert

Head of the Accounts Chamber Alexey Kudrin believes that one of the reasons for this decision could be the sanctions imposed by the United States, or "fears that settlements with the state may be difficult in dollars"

ST. PETERSBURG, June 5. /TASS/. Russians will be able to use the US dollar for settlements, to store personal savings, and exchange it after the state abandons it in the structure of the National Wealth Fund, Head of the Accounts Chamber Alexey Kudrin said in an interview with Rossiya 1 TV channel on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"This [decision] does not cancel settlements in dollars, which are carried out anyway between all countries. [The dollar] is not illegal. … You can also keep your personal savings in dollars, but the state diversifies its reserves into other assets," he said.

Kudrin believes that one of the reasons for this decision could be the sanctions imposed by the United States, or "fears that settlements with the state may be difficult in dollars."

The 24th St. Petersburg International Economic Forum is being held on June 2-5. The forum’s business program will focus on the global and Russian economies, social issues, and technological development. TASS is the information partner and the official photo hosting agency of the forum.

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United States SPIEF - 2021

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