Russian President Vladimir Putin claimed that the United States dollar is done and that it is going to lose its place of dominance on the global scale. Putin added 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.
Out of all the losers of the “war” in Ukraine, the U.S. seems to be coming out on top. Massive and expensive weapons packages don’t seem to be helping and for the U.S. not being involved directly in the conflict, it sure seems to be losing at least the proxy war.
According to Putin, the current policies of Western states are causing the U.S. dollar and the euro to lose their universality in international payments. And he’s not wrong. The deliberate and rapid decline in the value of the fiat currency thanks to the ruling class and central bank decisions has made it clear the U.S. doesn’t care. Perhaps that’s because the CBDC or central bank digital currency is on the horizon and they can at least control every one of the slaves living within the U.S.
Putin further 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. -RT
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. 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.
Russia has always been able to work around U.S. sanctions, and this is not going to be any different. The U.S. seems intent upon starting a war it likely can’t win, and one the public is not at all in favor of in spite of the massive amounts of propaganda being pushed on the slaves living under its ruling class.