Official: Russia has no plans to reject US dollar deals completely

MOSCOW, Feb 11 (PRIME) -- De-dollarization of the Russian economy is a reaction to the U.S. sanctions policy, but no one is speaking about a complete rejection if all settlements in U.S. dollars, Deputy Foreign Minister Alexander Pankin told PRIME on February 9.

The current U.S. economic policy of protectionism and the “America first” doctrine creates significant risks, and makes all international players think twice about dollar settlements, so de-dollarization is a natural reaction to the U.S. policy. “But it is obvious that complete de-dollarization will not happen,” he said.

The E.U. thinks that switching to euro settlements with Russia is reasonable, he said, adding that Moscow was also considering this option.

In general, the U.S. anti-Russian sanctions are an instrument of unfair competition aimed at squeezing out Russians and Europeans from markets, he said, adding that possible sanctions against Russian sovereign debt may hurt citizens of the U.S. and the E.U.

“This is largely about the possibility of introduction of sanctions against state debt or dollar payments. Because it may hurt interests of not only important American players, but also interests of their partners and allies, including those in Europe. It may be one of the goals of the sanctions. But the thing that European businesses suffer from the fallout of the sanctions to the same degree as Russia or even more is a fact,” he said.

Pankin also said that attempts to make Russia transit its gas to the E.U. through Ukraine at unfavorable conditions will not work. Moscow is ready to keep the gas transit via Ukraine, but only at its own conditions, he said.

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