Lavrov Announced the Phasing Out of the dollar in the Russian Economy

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Russian Foreign Minister Sergei Lavrov said that Moscow continues to pursue a line to refuse to make payments in US dollars. He stated to The Times of India on Wednesday, January 15, the Russian Foreign Ministry press service informed. The head of Russian diplomacy noted that the process of de-dollarization is taking place against the backdrop of a very aggressive "financial instruments of sanction pressure" use by the United States. “Russia continues its line of phased de-dollarization of the economy,” Lavrov said. He added that the calculation in national currency is "an objective reaction to the unpredictability of US economic policy." The minister added that Washington openly abuses “the status of the dollar as a global reserve currency.” In November, Lavrov called the dollar an unreliable currency because of "mindless US sanctions." In June, the European Central Bank described Russia as one of the main drivers of “dedollarization” in 2018.