Putin on de-dollarization: US authorities mistaken, so we’re switching to national currencies
Putin noted that Russia did not reject the use of dollars for transactions; rather it was refused this option. He emphasized that the currency used in transactions is influenced by the country’s role in the global economy. Currently, there is a shift underway, as the countries of the Global South now comprise 50% of global GDP, which naturally alters the priorities for the use of national currencies.
“The financial and political authorities in the United States are pushing this process forward with their not only careless but also unprofessional and foolish actions. I believe they already understand that they made a mistake, but they simply cannot find a way to get out of this predicament. We are switching to national currencies and that’s it,” Putin said.