The Russian president says Moscow will cooperate with its partners to develop a safe system for international settlements
The US and other Western currencies will inevitably lose their leading position in global cross-border transactions, Russian President Vladimir Putin said on Tuesday.
Delivering his annual address to the Federal Assembly, the head of state said that Moscow would cooperate with its allies to build a secure system of international settlements that are not dependent on the dollar or the euro.
According to Putin, the current policies of Western states are causing the US dollar and the euro to lose their universality in international payments.
He explained that Russia’s former Western partners are forcing Moscow to cut settlements in dollars and other Western currencies.
In December, Putin stated that the share of ruble transactions in Russia’s foreign trade had doubled since the beginning of 2022, and now accounted for one third of the country’s settlements. He projected that the use of national currencies in place of the US dollar and euro in trade with Russia’s international partners would continue to grow.
The process of de-dollarizing the Russian economy started back in 2014, when Western nations introduced the initial sanctions against Moscow over Crimea’s reunification with Russia, which was formerly part of Ukraine. Sanctions imposed since the start of the military operation in Ukraine have sped up the process, particularly after over $300 billion in Russian foreign exchange reserves and other assets were frozen by the US and its allies.
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Russian Foreign Ministry spokeswoman Maria Zakharova earlier said that the treaty provides for various forms of bilateral cooperation.
The comprehensive strategic partnership agreement between Russia and Iran has entered into force, Iranian Ambassador to Russia Kazem Jalali told Sputnik.
"It is already binding," Jalali said when asked about the date of entry into force of the agreement, as well as whether Iran had notified Russia of the completion of internal procedures.
He recalled that the treaty was ratified by both chambers of the Russian parliament, and Russian President Vladimir Putin signed it. At the same time, the document was ratified by the Iranian parliament, approved by the Guardian Council, and the president issued it as a law.
"Therefore, in both countries it currently has the form of a law and, naturally, has entered into force," Jalali said.
On January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, met in Moscow to sign the Comprehensive Strategic ...
Defying the United States threats, ministers from more than 30 nations have packed Bogotá’s San Carlos Palace to charge the Israeli regime with genocide over its October 2023-present brutal military assault against the Gaza Strip.
The dramatic display of international solidarity saw dozens of high-ranking officials from across the globe convene inside the stately palace on Tuesday, determined to hold the regime accountable for, what they unequivocally called, a “war of genocide.”
The two-day emergency summit, organized under the auspices of The Hague Group -- a coalition co-chaired by Colombia and South Africa -- had representatives, ranging from such countries as Algeria and Brazil to Pakistan and Spain, in attendance.
The participants described the drive as a coordinated effort to stop the Israeli atrocities.
Behind closed doors, ministers and envoys, meanwhile, engaged in intensive sessions aimed at drafting collective measures to pressure the regime -- steps expected to be unveiled by ...
