Russia continues its policy aimed at gradual de-dollarization of economy - Lavrov
MOSCOW. Jan 15 (Interfax) - Russia continues its policy aimed at gradual de-dollarization of the economy against the backdrop of the increasing aggressive sanctions of the United States, Russian Foreign Minister Sergei Lavrov said in an interview with the Indian newspaper Times of India.
"Against the background of the increasingly aggressive use of financial sanctions by the U.S. Administration, Russia continues its policy aimed at gradual de-dollarization of the economy. Together with our main partners, including India, we work on developing economic and legal mechanisms to reduce the negative impact of restrictions on bilateral trade and investment ties," Lavrov said.
"Expanding settlements in national currencies is one of our priorities. Relevant intergovernmental agreements on settlements and payments were concluded with China and Turkey last June and October. Within BRICS, agreements were reached on the mutual opening by the Central Banks of relevant correspondent accounts," he said.
"We consider that de-pegging from the dollar in mutual settlements is an objective response to the unpredictability of the U.S. economic policy and the outright abuse by Washington of the dollar's status as a world reserve currency," Lavrov said.
"Currently, New Delhi and Moscow are vigorously working to prepare a new intergovernmental agreement on the mutual protection of investments, which will by far increase investor protection for both sides. The agreement on a free trade zone between the Eurasian Economic Union and India which is currently being negotiated should also contribute to this," he said.