What Does The Yuanization Of The Russian Economy Mean For The Dollar?
On September 12, Russian President Vladimir Putin stated that, given mounting economic sanctions, full de-dollarization of the Russian economy is only a matter of time (RBC, September 12). Putin`s remark was preceded by a statement from Russian Deputy Finance Minister Alexey Moiseev, who argued that Russia no longer needs the US dollar as a reserve currency. Instead, Russia must accumulate funds in currencies of so-called friendly countries, such as the Chinese yuan, which is playing a key role in this
Wednesday, September 28, 2022 at 9:00 pm