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US policy undermines dollar’s position as reserve currency — Putin

The president stressed that Russia did not abandon the dollar

MOSCOW, November 30. /TASS/. The dollar has not lost its value as a reserve currency but the policy of US authorities undermines its global positions, Russian President Vladimir Putin said at the plenary session of the 13th VTB Capital Investment Forum "Russia Calling!"

"I did not say the dollar lost its value as the reserve currency, as the universal global currency for settlements. No, I merely said that the policy of US authorities undermines the dollar and pushes us out of the dollar zone," the President said.

Russia does not abandon the dollar, Putin said. "We do not want to go elsewhere. Our majors make oil and gas settlements in dollars but we, say, are not allowed making payments to our partners in the defense industry supplies, in the defense sector sphere, in dollars. So what we have to do? We simply have to withdraw. Sanctions are introduced against certain goods unrelated to the defense industry sector. Again, payments in dollars were made difficult. The US authorities are creating the problem on their own," the head of state said.

As a result, payments in dollars declined not merely in respect of Russia but also worldwide, he added.