๐ฐ End of dollar hegemony?
Russia has been seeking to eradicate the dollar and euro from its foreign trade relations ever since the 2014 wave of sanctions over Crimeaโs reunification.
Russia has been seeking to eradicate the dollar and euro from its foreign trade relations ever since the 2014 wave of sanctions over Crimeaโs reunification.
As efforts have been renewed recently, check out the list of nations that are ready to dethrone the dollar (or are already in the process of doing so) together with Russia.
โ๏ธSpoiler: the list is not complete
๐ฎ๐ณ India: Moscow & Delhi are working to reinstate the rupee-ruble payment mechanism that was in place during the Cold War before the collapse of the Soviet Union
๐ฎ๐ณ India: Moscow & Delhi are working to reinstate the rupee-ruble payment mechanism that was in place during the Cold War before the collapse of the Soviet Union
๐จ๐ณ China: a mechanism is already in place, & the share of national currencies in Russia-China payments keeps growing
๐ฎ๐ท Iran: Tehran and Moscow have already switched to the use of national currencies in some mutually agreed upon types of settlements
๐ฎ๐ท Iran: Tehran and Moscow have already switched to the use of national currencies in some mutually agreed upon types of settlements
๐น๐ท Turkey: Presidents Putin & Erdogan agreed to switch bilateral trade to national currencies, starting off with settling gas deliveries in the Russian ruble, during their latest meeting in Sochi
๐ป๐ชVenezuela: the country is working with Russia to make automatic payments in their national currencies as the two seek to move away from the dollar
๐ฎ๐ฉ Indonesia: discussions on trade payments in national currencies are ongoing
๐ฎ๐ฉ Indonesia: discussions on trade payments in national currencies are ongoing
๐ ๐ณ What's more, the use of Russiaโs Mir card payment system is allowed in Turkey, Vietnam, Armenia, South Korea, Uzbekistan, Belarus, Kazakhstan, Kyrgyzstan, South Ossetia, and Abkhazia.
Sputnik reported.
Sputnik reported.
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