Russia Almost Entirely Uses Its Own Currency for Energy Settlement in International Trade and This Trend Will Continue, Says Russian Vice Minister

Russia’s Vice Minister said that Russia almost entirely uses its own currency for energy settlement in international trade and this trend will continue.

Abandoning the use of US dollar in world trade and switching to local currencies instead is an irreversible trend, Russia’s foreign minister said at a press conference in mid-April.

Deviation against the US dollar has already begun, and the process is bound to accelerate, although the current pace is not very fast, he added.

Analysts believe that “dedollarisation” is driven by multiple factors, and the bottom reason is that the US is going against globalisation and abusing its financial dominance.