Putin: Arab countries are considering establishing their own reserve currency

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Putin: Arab countries are considering establishing their own reserve currency

Reuters

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Russian President Vladimir Putin confirmed that the number of reserve currencies in the world will increase, noting that Arab countries are considering establishing their own reserve currency.

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Putin: US policy undermines the dollar's status as a reserve currency

This came during the participation of the Russian President in the investment forum “Russia is Calling”, which started today, Tuesday, with the wide participation of politicians and businessmen from different countries of the world.

He said, “The main trend today is to increase the number of reserve currencies in general. I know that Arab countries are thinking of creating their own reserve currency. The euro is developing in this direction.”

Russian President Vladimir Putin also stressed that the dollar has not lost its importance as a reserve currency, but its position in the world has been undermined by the policies of the US authorities.

He pointed out that Russia does not intend to completely abandon the dollar, as the major Russian oil and gas companies depend on the US currency in trade settlements. But he stressed that the continued use of the dollar depends mainly on Washington.

Source: TASS





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