|  | 

General

Putin says US sanctions erode trust in dollar

Moscow, Russian President Vladimir Putin says US sanctions against his country and others have eroded international trust in the United States dollar.

Putin said at an international policy forum in Sochi on Thursday that the US sanctions against companies that engage in trade with Iran would spur the creation of payment systems that don't depend on the dollar.

The Russian leader said the policy in Washington 'undermines trust in the dollar as a universal payment instrument and the main reserve currency.'

Putin says Russia was forced to sharply reduce the share of US Treasuries in its currency reserves.

He said: 'We did that not because we wanted to undermine the dollar, but because of sanctions that have been introduced against us.'

Source: Islamic Republic News Agency - IRNA


The iran News Gazette is mainly concerned with news and information about the Arab region and also covers international issues. Its main objective is to provide reliable and verified information on the Arab region for publishing on the digital landscape.