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Global exporters realize dollars have become unreliable — Novak

It was added that big oil exporters are under pressure to limit the supply of Russian resources

ST. PETERSBURG, June 17. /TASS/. Global exporters are now realizing that the dollar has become an unreliable currency and searching for ways to switch to settlements in national currencies, Russian Deputy Prime Minister Alexander Novak said in an interview with Rossiya 24 TV channel at SPIEF.

"Today, taking into account the events happening in the financial markets to ban the use of the currency, the dollar or the euro, everyone is well aware that this currency has become not very reliable. So, they are looking for ways to switch to settlements in national currencies," he said.

Big oil exporters are under pressure to limit the supply of Russian resources, Novak added. "We certainly see that countries that are major suppliers of resources to world markets are being pressured in various ways in order to more severely limit supplies of our energy resources," he said.

"Reasonable people who work in this industry are well aware that today there are no free capacities on the market that could replace Russian oil and gas," Novak added.

The St. Petersburg International Economic Forum organized by the Roscongress Foundation is running from June 15 to 18. This year’s forum is dubbed: ‘New Opportunities in a New World’. The SME Forum, the Creative Business Forum, the Drug Security Forum, the SPIEF Junior Dialogue and SPIEF Sport Week are also going to be part of the SPIEF event. TASS serves as the event’s official photo hosting agency and the information partner.

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Alexander Novak SPIEF-2022

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