Russia sees a future in payments in rubles and national currencies, and dollars are a “toxic” currency. This was stated by the head of the Ministry of Finance Anton Siluanov in an interview with the NTV channel at the St. Petersburg International Economic Forum.
“I see that in the near future, it is the emphasis on settlements in Russian rubles and national currencies that is our prospect. Dollars are toxic– he said.
The head of the Ministry of Finance explained that the “toxicity” of the dollar and other Western currencies is due to the difficulties that arise when using them. “Sanctions are imposed on banks, and there the deposits of Russian citizens and entrepreneurs, dollar settlements go through strict verification systems in Western banks, often freeze for a long time – all this creates discomfort in the use of these currencies”Siluanov noted.
He added that at the moment it is unprofitable to keep a foreign currency deposit both from an economic point of view and from the point of view of the risks associated with such savings.