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Confidence in dollar lost — Putin

The Russian president noted that "even US allies are gradually reducing their dollar reserves"

VLADIVOSTOK, September 7. /TASS/. Countries are gradually losing confidence in the dollar, euro, pound sterling as settlement and reserve currencies, Russian President Vladimir Putin said at a plenary meeting of the Eastern Economic Forum.

"In an attempt to resist the course of history, Western countries have undermined the key pillars of the world economic system, which has been built over centuries. Before our eyes, confidence in the dollar, euro, and pound sterling as currencies for payments, storing reserves, nominate assets has been lost. We are gradually moving away from the use of such untrustworthy, compromised currencies," he said.

Putin noted that "even US allies are gradually reducing their dollar reserves". "You can see it in statistics. Both the volume of settlements in dollars and savings are gradually decreasing," he added.

Organized by the Roscongress Foundation, the Seventh Eastern Economic Forum will be running from September 5 to September 8 in Vladivostok. TASS is the event’s general information partner and its official photohost agency. This year, the theme of the forum is: "On the Path to a Multipolar World."

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