Vladimir Putin urged to abandon the dollar

At the same time, 45% of Russia's international reserves (over $ 200 billion) are kept in American currency.
Correct for Russia is the policy of refusing to bind the economy to the world system of dollar settlements. This, speaking in the State Duma, said Russian President Vladimir Putin.

According to him, the "separation from the dollar" - the main currency of trade settlements in the world - will lead to an "increase in the economic sovereignty" of Russia, which is "absolutely correct."

"Oil is traded in dollars on the exchange," Putin said, "and, of course, we think we need to do to free ourselves from this burden" (quotes from Interfax).

Western countries, he said, are helping Russia move in this direction, introducing "illegal restrictions, violating the principles of world trade."

"The whole world sees that the monopoly of the dollar is unreliable, it is dangerous for many regions," Putin explained.

"In the past decades, in the hope that the declared principles in the field of world trade will be observed, we behaved somewhat naively," Putin said. "And now we see that the WTO rules are violated very often, the restrictions go for political reasons, which are called sanctions, and new and new ones are being introduced (sanctions) in order to ensure that their beloved have competitive advantages. "

"Only this," Putin said, explains the sanctions against Rusal, which cut out the largest aluminum producer in Russia from the world supply system.

Answer to these measures is necessary "by raising the level of its economic sovereignty," the president emphasized, adding that "non-linear solutions" are required.

For this, in particular, Russia is diversifying its gold and foreign exchange reserves, Putin said.

According to the report of the Central Bank, we note that the share of the dollar in the international reserves of the Russian Federation last year rose to a historic high: as of January 1, 45% of the central bank's funds are stored in American currency.