Foreign Ministry: Russia has no immediate plans to abandon dollar

MOSCOW, Aug 23 (PRIME) -- Russia does not have immediate plans to abandon the U.S. dollar use but is trying to reduce its dependence on the U.S. currency, Deputy Foreign Minister Sergei Ryabkov said in an interview with several Chinese and Japanese media outlets on Wednesday.

“I was not saying that we must move towards abandonment of the dollar as a settlement means immediately. I was saying that there is a goal to reduce dependence on the dollar, in fact, the prevalent global reserve currency, on the agenda,” Ryabkov said.

The U.S. Department of Treasury published a revised sanctions list of companies and individuals having ties with North Korea on Tuesday, it included Moscow-registered Gefest-M, and four Russians.

Ryabkov said then that Moscow is preparing to retaliate.

“In my opinion, this can be done through a wider use of settlements in the national currency, via asset diversification, via the use of alternative reserve currencies, which are also galore in the world compared to 50 years ago,” he said.

Ryabkov said that the idea is not new.

“Which other response can there be, if instead of cultivating the role of the dollar as a firm international settlement means which does not depend on any trend, the United States of America with the help of illegal practices … forces everyone … who makes settlements in dollars, first write a statement on political loyalty and devotion to Washington, figuratively speaking, and later, may be, be allowed to make settlements in dollars?” he said.

“This is a very peculiar way of maintaining the uniqueness of currency as an international payment means.”

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