28 Nov 2018 18:31

Putin: we do not have goal of moving away from dollar, it is moving away from us itself

MOSCOW. Nov 28 (Interfax) - President Vladimir Putin said that Russia does not have the goal of moving away from the dollar.

"We do not have the goal of moving away from the dollar. The dollar is moving away from us," Putin said in an address at VTB Capital's Russia Calling forum.

The initiators of such a state of affairs are primarily harming themselves, he said.

"Those who are making the corresponding decisions are shooting themselves not in the foot, but a little higher, because this instability in settlements in dollars gives rise to the desire of very many economies of the work to find alternative reserve currencies and create a system of payments independent of thedollar system," he said.

Russia is not the only country in which this situation is taking shape, Putin said.

"The matter is not just here, believe it. We see what is happening in the world today: look at how gold and forex reserves are declining, including in countries that are close allies of the U.S. Dollar assets are declining - look at the reports - of the biggest holders of dollar assets," Putin said.

"This is the result of the policy of applying sanctions, including with the use of the dollar," he said. "I think that sooner or later this awareness will come. But for now the world confronts these kinds of things, will seek out alternative settlements and accumulation of reserves. We are already doing this, like many other countries," he said.

In trade with Eurasian Economic Union (EAEU) countries, 70% of Russian exports and 30% of its imports are serviced in rubles, Putin said.