Total de-dollarization in Russia

Hello ATS!

The Russian news agency RIA Novosti reported interesting news in its article "Total de-dollarization has happened in Russia. The Ministry of Foreign Affairs has declared independence from toxic currencies."

"Russia is no longer dependent on the American currency, the share of the dollar and euro in settlements on Russian export operations is currently less than 20%, Dmitry Birichevsky, Director of the Department of Economic Cooperation of the Russian Foreign Ministry, told RIA Novosti.

"Russia is at the forefront of the de-dollarization trend. According to the Central Bank, in May of this year, the share of the ruble and currencies of friendly countries in settlements on our export operations exceeded 82%, and 76% on imports. The share of "toxic" currencies (primarily the dollar and euro), which in 2021 amounted to almost 85% of exports, has now fallen below 20%. In settlements for imports, it also makes up less than 30%," he said in an interview with the agency.

"Thus, today we are no longer dependent on the American currency. Financial transactions with our key partners have been converted into national currencies. Their share in settlements within the EAEU is about 90%, in bilateral settlements with China - more than 90%. The use of the ruble and rupee in servicing trade with India is growing. Other currencies of friendly and neutral states are being used more and more actively," the diplomat emphasized.

According to him, Moscow is interested in building sustainable mechanisms for mutual settlements with all interested parties ready to cooperate with Russia on the terms of equality and mutual benefit.

"In this context, we are working with many states of the global majority to strengthen financial interaction, link payment systems and create other necessary infrastructure," Birichevsky added.

Interestingly, the Russian Foreign Ministry has officially declared the dollar, pound sterling and euro toxic currencies. Russia is supported in this by the majority of developed countries of the world, which are in a huge queue to join BRICS. By the way, in October the BRICS settlement system is officially launched, which signs the death warrant for the SWIFT settlement system. Quietly and imperceptibly, the entire world economic system built by the West after the Bretton Woods agreements is changing before our eyes.

Thank you.

a reply to: RussianTroll

You have to admire how this is spun as something that Russia has chosen to do.

I would really like to see this list of developed countries supporting Russia and queuing to join BRICS.

originally posted by: BedevereTheWise
a reply to: RussianTroll

You have to admire how this is spun as something that Russia has chosen to do.

I would really like to see this list of developed countries supporting Russia and queuing to join BRICS.

BRICS member and candidate countries

a reply to: RussianTroll

The geopolitical world is changing, which seems to be frightening to not only western civilaztion but also world leaders. I'm not smart enough to know what it all means in the long term and am too old to be around long enough to find out.

Being American, it's hard to envision a time when we are not the world police anymore. What strange and interesting times we live in!

originally posted by: RussianTroll

originally posted by: BedevereTheWise
a reply to: RussianTroll

You have to admire how this is spun as something that Russia has chosen to do.

I would really like to see this list of developed countries supporting Russia and queuing to join BRICS.

BRICS member and candidate countries

22 countries, most with low GDP per capita.

Not quite the majority of developed countries as claimed.

a reply to: BedevereTheWise

In terms of GDP at PPP, these countries have long been ahead of Western countries.

United States Dollar to Russian Ruble
90.2484 to one dollar... as of 09/02/2024
0.27%
+0.2431 Today good to see the value of the Ruble has gone up a fraction of one percent ! One million USD would require a big transport if converted to Rubles, no ?

I was told that Russia is having to rationing petrol in certain regions is that true ?

a reply to: 727Sky

The dollar to ruble exchange rate has not been determined by the market for a long time, since American sanctions have banned the Moscow Currency Exchange. That is, the rate is determined by the daily willful decision of the Central Bank of Russia. If it is like this today, then it is beneficial to the state and the economy. But the exchange rates of the BRICS countries are still determined by the market - on the exchange.

And in general, the economies of Western countries are no longer market economies, communism is being built in the West. When this finally happens, then the time of Pol Pot and Yeng Sary will come.

originally posted by: RussianTroll
a reply to: BedevereTheWise

In terms of GDP at PPP, these countries have long been ahead of Western countries.

You might want to read your own link which gives the PPP per capita.

a reply to: BedevereTheWise

I read it. Besides, if you go down my blog by publications, you will find a lot of threads about the current state of countries in GDP by PPP. Now, for example, Russia is in 4th place in . In the top five there are 3 BRICS countries. The other two are the USA - 2nd place and Japan - 5th place. For example, France and Britain are in 9th and 10th places respectively, and Germany is in 6th place.

This is data from the World Bank and the International Monetary Fund.

a reply to: RussianTroll

When this finally happens, then the time of Pol Pot and Yeng Sary will come.

I was there in S.E. Asia during Pol Pot's terror of stupidity and I would not wish that on anyone or a country.. One difference with America is there really is a gun behind every blade of grass and people who are willing to say enough is enough.. Well that is the myth anyway !! hahaha

originally posted by: 727Sky
a reply to: RussianTroll

When this finally happens, then the time of Pol Pot and Yeng Sary will come.

Well that is the myth anyway !! hahaha

Millions of people destroyed by Pol Pot's communists will not agree with you)))

Good to hear some of the world is getting ready for when the day the USD can kicking down the road comes to an end.

originally posted by: RussianTroll
a reply to: BedevereTheWise

I read it. Besides, if you go down my blog by publications, you will find a lot of threads about the current state of countries in GDP by PPP. Now, for example, Russia is in 4th place in . In the top five there are 3 BRICS countries. The other two are the USA - 2nd place and Japan - 5th place. For example, France and Britain are in 9th and 10th places respectively, and Germany is in 6th place.

This is data from the World Bank and the International Monetary Fund.

Now look at the per capita figures.

a reply to: RussianTroll

Not be long now until Russia declares the "Rouble" a toxic currency present climate and all that jazz.

Circling the drain now.

And as always freedom to Ukraine and down with Mad Vlads Russian scum invaders.

Thank you.

a reply to: RussianTroll

the Russian Foreign Ministry has officially declared the dollar, pound sterling and euro toxic currencies.

Funny how they've delclared that??
www.reuters.com...

June 12 (Reuters) - New U.S. sanctions against Russia have forced an immediate suspension of trading in dollars and euros on its leading financial marketplace, the Moscow Exchange

The move means banks, companies and investors will no longer be able to trade either currency via a central exchange, which offers advantages in terms of liquidity, clearing and oversight.

a reply to: RussianTroll

Millions of people destroyed by Pol Pot's communists will not agree with you)))

Talk about fecking hypocritical.

How can you actually come away with statements like that considering your beloved Joseph Stalin's policies led to the deaths of an estimated 20 million people?

Your "Great Purge", the countless deaths in the Gulag labor camps.

Never mind the victims of the Holodomor.

And those who perished during the various mass deportations and ethnic cleansings Russia is buried up to its arse in.

Clown shoes!

originally posted by: RussianTroll

originally posted by: 727Sky
a reply to: RussianTroll

When this finally happens, then the time of Pol Pot and Yeng Sary will come.

Well that is the myth anyway !! hahaha

Millions of people destroyed by Pol Pot's communists will not agree with you)))

That is true but those who were killed and persecuted were unarmed teachers, people who were educated and even wore glasses, and city folk ..

Cambodia has a large Chinese presence now so it is ripe for another Pol Pot Regime if their economy starts to crater. I have Brits, and Australian friends working there doing mining and other stuff.... Maybe the Vietnamese can save the Cambodians once again if things go south; but I doubt it.. Much of Asia is giving lip service to the big bad CCP as distasteful as it is...

There are many Russians who have come to S.E. Asia to make their fame and fortune or avoid Ukraine They just about run Phueket Thailand and sections of Pattaya

Aleksandr I. Solzhenitsyn
And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand?

a reply to: RussianTroll

communism is being built in the West.

That seems to be the consensus on conspiracy siyes-until someone like you comes along and points it out.

Gun owners seem to think it's going to be an all-out assault they can shhot their way out of. Silly people....that's not how it's going to go down.

a reply to: RussianTroll

I don't think it's all as rosey in Russia as you make out,
dailywrap.uk...

Russians join military for financial survival as economic woes deepen.

Many Russians decide to join the army mainly for financial reasons. The country's economic situation forces them to make this difficult choice. Anton

The Russian authorities are introducing various incentive programs. a person putting on a uniform can expect a one-time payment equivalent to two years' wages of an average skilled worker.

I went to work as a driver. I had debts, and they offered me a job as a bus driver. I got a rifle, but I'm not a fighter, I don't want to kill anyone. I've never killed anyone in my life - emphasizes the Russian man.