Putin says dump dollar
This post was originally published on this site
Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.
This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union.
“This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from Kremlin.
The bill would also help to facilitate trade in the region and help to achieve macro-economic stability.
Within the framework of the Eurasian Economic Union (EEU) the countries have also discussed the possibility of switching to national currencies. According to the agreement between Russia, Belarus, Armenia and Kazakhstan, an obligatory transition to settlements in the national currencies (Russian ruble, Belarusian ruble, dram and tenge respectively) must occur in 2025-2030.
Today, some 50 percent of turnover in the EEU is in dollars and euro, which increases the dependence of the union on countries issuing those currencies.
Outside the CIS and EEU, Russia and China have been trying to curtail the dollar’s dominance as well.
READ MORE: China approves usage of ruble instead of US dollar for border city
In August, China’s central bank put the Russian ruble into circulation in Suifenhe City, Heilongjiang Province, launching a pilot two-currency (ruble and yuan) program. The ruble was introduced in place of the US dollar.
READ MORE: Time for Russia & Vietnam to think of switching to local currencies – Medvedev
In 2014, the Russian Central Bank and the People’s Bank of China signed a three-year currency swap agreement, worth 150 billion yuan (around $23.5 billion), thus boosting financial cooperation between the two countries.
The post Putin says dump dollar appeared first on Middle East Post.
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Whistler Blowers, Insiders
Putin says a lot of things. Leaders of crappy countries full of citizens that wish they lived in different countries will always say crap like this.
Putin says Drop The Dollar. Like that’s news to anyone that he would make a comment like that. In between posing for pictures showing him being a master hunter, a master fisherman, a master submarine captain, a master sharpshooter, and a master bear wrestler, I’m sure he’s also made comments about how bad off us Americans are. And that all his citizens should be so happy they live in a country where getting a new McDonald’s is like a national holiday.
“Putin says dump dollar”
You mean like he dumped those flat-bed trucks full of cheese and other foods simply because they were from western countries? Then he had that food run over by dozers to be sure it couldn’t be picked up and used……
He sounds lovely……
Phuk Putin.