China and Russia have continued to abandon the dollar
By admin at 21 June, 2009, 7:17 pm
China and Russia have agreed to make more effective use of national currencies in mutual trade, to lessen dependence on the U.S. dollar. We agreed to continue to further movement in that direction, - commented on the agreement, Dmitry Medvedev, the president of Russia.
In particular, the Moscow official said that China wants to sell oil for rubles. The statement was made by the head of Rosneft, Igor Sechin. Over the next 20 years, estimated sales volume of oil will exceed $ 100 billion last year trade turnover between the countries amounted to $ 56.8 billion
Tuesday, June 16, leaders of China and Russia during a meeting of representatives of BRIC called for a more diversified financial system in which developing economies have a great opportunity. Includes discussion and an alternative to the dollar as the main reserve currency.
Recall that at the summit of the Shanghai Cooperation Organization in Yekaterinburg, Medvedev said that the SCO members should make more active use of estimates in national currencies. In addition, in the perspective of the Russian President did not rule out the transition to supra-national means of payment.
A June 5, Medvedev expressed doubts about the reliability and the prospects for the dollar as the world's main reserve currency. Medvedev proposed to abandon the U.S. currency in favor of the ruble or supranational currency.
It (the U.S.) are not in a brilliant position, say frankly, - said Medvedev.
Since then Russian Vice Prime Minister, Finance Minister Alexei Kudrin said that, on the contrary, the U.S. is in good shape and the urgent need to replace it as the world reserve currency is not.
Formerly head of the Chinese central bank Zhou Syaochuan called for the creation of a new currency to gradually replace the dollar as a world-class standards.
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