Russian econ minister says backs dollar withdrawal idea

ST. PETERSBURG, Sep 21 (PRIME) -- Russian Economic Development Minister Maxim Oreshkin said Friday he supports a statement by CEO of the country’s second largest lender VTB Andrei Kostin about a need to curb U.S. dollar use in the economy.

“The role of dollar is actively reducing on various directions, and I fully support many proposals of Andrei Leonidovich (Kostin),” Oreshkin said.

Kostin earlier told newspaper Izvestiya that Russian companies need to switch to settlements in national currencies for export and import operations and must move the companies under domestic jurisdiction. Russia-based depositary for Eurobonds should be set up, and a single set of rules should be created for all participants of the local stock market.

Deputy Finance Minister Alexei Moiseyev said Tuesday he supported proposals of Kostin.

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