Skip to main content

De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov

De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov

The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is undermining the role of the U.S. currency.

Russia’s Sergey Lavrov Announces Beginning of De-dollarization of Global Economy

Russian Foreign Minister Sergey Lavrov believes that the de-dollarization of the world economy is already in motion, backed by a number of nations. Speaking during the latest assembly of Russia’s Council on Foreign and Defense Policy think tank on Saturday, he stated:

De-dollarization has begun, both in practice and in conceptual speeches.

Lavrov highlighted Brazil’s suggestion that the BRICS summit in August should consider protecting financial transactions within the organization representing the leading emerging economies and safeguarding its New Development Bank from “abuse” stemming from the “dollar’s persistent role.”

“We are putting forward many other initiatives concerning this issue,” the diplomat remarked, quoted by the Tass and RIA Novosti news agencies. He also emphasized that the Russian Federation’s position in that regard is shared by many allies and like-minded friends.

Russia has been the target of unprecedented sanctions over its invasion of Ukraine, including financial restrictions that have limited its access to global finances and markets. Lavrov noted that the West is now sending emissaries to other countries, demanding that they sever most, if not all, of their trade, economic and investment ties with Russia.

“They [Western nations] know well how to play on the difficulties they themselves create for other countries. And they will probably have a certain result, a certain benefit in the short term,” Sergey Lavrov elaborated.

“But in the long term, they, and first and foremost the Americans, are hewing down the bough on which they are sitting … including the roles of the International Monetary Fund, the World Bank, and the role of the dollar in the world’s economy,” he concluded.

Do you think the leading role of the U.S. dollar in the global economy is threatened? Share your thoughts on the subject in the comments section below.



from Bitcoin News https://ift.tt/tcQ37sx
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more