The countries of the world will have to agree on “a new financial world order”, said Dmitry Medvedev, Deputy Chairman of the Security Council (SB) of Russia. In his Telegram channel, he concluded that confidence in reserve currencies is falling, and the abandonment of the dollar and the euro as the world’s major reserves “does not look such a fantastic prospect.”
“What kind of reserves are these, if the obligations under them are frozen and in fact defaulted by the will of insane politicians who are ready to bring their taxpayers’ money to the altar of the unknown victory in the war” to the last Ukrainian “? Who needs them in that case? They don’t even want to take them to pay for fuel supply contracts. The era of regional currencies is coming, “Medvedev said.
The decisive word in the discussion of the “renewed financial system” will be for those countries that “have strong and advanced economies, healthy public finances, a reliable monetary system,” Medvedev said. The effect of anti-Russian sanctions, in his opinion, returns to the countries that imposed them, “a boomerang.” According to him, the recession is starting in Europe, global inflation is growing. Medvedev emphasizes that the consequences of previous economic crises affect ordinary citizens, not all of whom agree that “solidarity in the struggle for the right cause is more important than personal well-being.”
In addition to Medvedev, on March 30, State Duma Chairman Vyacheslav Volodin also spoke in support of regional currencies. In his Telegram channel, he proposed to include fertilizers, grain, oil, oil, coal, metals and wood in the list of goods that are exported only for rubles. “European politicians need to end the talks, stop looking for excuses why their countries can not pay in rubles,” he wrote. “They did everything they could to undermine confidence in the dollar and the euro, so that Russia would abandon mutual settlements in these currencies.”
Now, according to the decree of Russian President Vladimir Putin, the export of Russian gas to “unfriendly countries” should be carried out in rubles.
PFUR Head of International Economic Relations Inna Andronova believes that “the use of the dollar is the fuel of the American economy.” Medvedev is proposing to move away from the current system of international reserve assets of special borrowing rights, which includes the US dollar, the euro, the Chinese yuan, the Japanese yen and the pound sterling, as its creator is the International Monetary Fund (IMF), she said.
In order to implement Medvedev’s proposals, it is necessary to prepare an international convention, which should provide for the definition of a new financial institution that will ensure the functioning of the currency mechanism, said legal adviser Vladislav Zhuravlev. “Regional currencies must be in demand, otherwise they will not be able to compete with current reserve currencies,” he said.