This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.rt.com/business/462194-dollar-becoming-toxic-russia/

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
‘Dollar becoming toxic’, more nations searching for alternatives – Russia’s foreign intel chief ‘Dollar becoming toxic’, more nations searching for alternatives – Russia’s foreign intel chief
(about 5 hours later)
The US dollar is an anachronism of the modern world economy, according to the director of the Russian Foreign Intelligence Service, Sergey Naryshkin. The use of the US dollar presents risks and more nations are looking into finding alternative tools for doing business, according to the director of the Russian Foreign Intelligence Service, Sergey Naryshkin.
Talking at an international meeting of security representatives, he said: “It seems abnormal that the United States, behaving so aggressively and unpredictably, continues to be the holder of the main reserve currency.” He called US currency an anachronism of the modern world economy, accusing Washington of using sanctions as a political tool.
Naryshkin added: “Due to the objective strengthening of multipolarity, the monopoly position of the dollar in international economic relations becomes anachronistic. Gradually, the dollar is becoming toxic.” Talking at an international meeting of security representatives in the Russian city of Ufa, the head of Russian intelligence said: “It seems bewildering that the US continues to be the holder of the main reserve currency while behaving so aggressively and unpredictably.”
The head of the Russian intelligence service said that the use of the dollar presents risks and more nations are looking into finding alternative tools for doing business. Naryshkin added: “The monopoly position of the dollar in international economic relations has become anachronistic. Gradually, the dollar is becoming toxic.”
Countries across the globe, including Russia, China, India, and others, have been working to diversify their foreign reserves away from the greenback.Countries across the globe, including Russia, China, India, and others, have been working to diversify their foreign reserves away from the greenback.
Russia has taken concrete steps towards de-dollarizing the economy. So far, Moscow has managed to partially phase out the dollar from its exports, signing currency-swap agreements with a number of countries, including China, India, and Iran. Russia has recently proposed using the euro instead of the US dollar in trade with the European Union.Russia has taken concrete steps towards de-dollarizing the economy. So far, Moscow has managed to partially phase out the dollar from its exports, signing currency-swap agreements with a number of countries, including China, India, and Iran. Russia has recently proposed using the euro instead of the US dollar in trade with the European Union.
For more stories on economy & finance visit RT's business sectionFor more stories on economy & finance visit RT's business section