PNN – Russian President Vladimir Putin stated that the era of dominance of the US dollar and the euro in international transactions is over: Day by day, more and more countries use their national currencies to conduct transactions with their international partners, and the settlement system with national currencies has replaced the use of US dollars and Euros.
According to Pakistan News Network, citing Anatolia news agency, Putin added: To maintain their dominance over the global economy, Western elites resort to sanctions, destabilizing the political status of countries and driving them into conflict with each other.
Stating that the entire global system of economic relations is now undergoing a phase of fundamental changes, the Russian president noted that despite the efforts of Western countries, these fundamental changes are irreversible.
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He continued by pointing out that those western countries that saw themselves at the top of the world economic pyramid are trying to create obstacles in the process of these fundamental changes with their actions: They, who in the past were free from the economy and in the form of “open doors” policy, argued for the necessity of opening the borders of the countries for the free import of foreign goods, as soon as new economic competitors appeared, they began to close their borders (on the competitors’ goods).
Emphasizing that Russia wants to create a new and democratic global economic model, Putin reminded: the current changes in the global economic landscape and the emergence of new leaders is an objective and natural process.
The Russian president also stated that the era of dominance of the US dollar and the euro on international transactions is over. Day by day, more and more countries use their national currencies to conduct transactions with their international partners, and the settlement system with national currencies has replaced the use of US dollars and Euros.
He reminded: Of course, there is still a lot of work to be done in this field, but the issue that is obvious is that the dominance of the West over the world economy is declining and becoming obsolete, and this obsolescence will accelerate day by day.