Dmitry Peskov, spokesman for the Russian presidency said that the dollar is no longer a reliable reserve currency, noting that these concerns have become common to many countries of the world.
In response to a question about whether the goal of reducing settlements in dollars and expanding settlements in national currencies is a “collapse of the US currency,” Peskov told reporters that increasing the share of settlements in national currencies between Russia and Turkey is not aimed at “destroying anything,” especially the dollar.
He added: “The increase in the share of mutual settlements in national currencies with different countries is not intended to do anything, in particular, to reduce the dollar, since the US currency is no longer a reliable reserve currency, and now these concerns are shared by a very large number of countries.”
He continued: “Unfortunately, the dollar-issuing country, through its actions, has destabilized confidence in this currency. Therefore, many countries are looking for opportunities to reduce the dollar’s share in their trade and increase the share of settlements in the national currency. The same process is taking place in our relations with Turkey.”
At the end of last week, Russian Deputy Prime Minister Alexander Novak revealed, after the meeting of the Russian and Turkish leaders, they agreed to sell part of Russian gas to Turkey in roubles.
“Gas supplies to Turkey were discussed, which are supplied in fairly large quantities: 26 billion cubic meters annually,” Peskov said. During the negotiations, the two presidents agreed that part of the gas supply would be paid for in roubles.
He added: “We are talking about a gradual transition to national currencies, and in the first stage, part of the supplies will be paid in roubles.”