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Dollar-denominated reserves declining every year — Putin

Russia has never had the goal of de-dollarizing its economy or the global economy, the President stressed

ST. PETERSBURG, June 16. /TASS/. Dollar-denominated reserves of large economies are declining from year to year, President Vladimir Putin said at the St. Petersburg International Economic Forum (SPIEF).

"Reserves of countries with the large economy are contracting from year to year, probably not as quickly as somebody would like, but they go down just as dollar-denominated payments in the global economy," Putin said.

Russia has never had the goal of de-dollarizing its economy or the global economy, the President stressed. "I want to say: we never had and we do not have the goal of de-dollarizing or influencing on de-dollarization of the global economy," Putin said.

The effect of a certain currency for the world’s economy is directly linked to the economic potential of the country issuing such currency, he added.

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Vladimir Putin SPIEF-2023

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