US Sanctions: Russia is looking to dump the Dollar

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Moscow: Russia is increasing its efforts to wean the country’s economy.

United States is considering imposing US sanctions on different countries. The expected US Sanctions could deny Russia access to the foreign debt markets and also cut banks from US Dollar.

However, Russian President Vladimir Putin repeatedly slammed US unit’s dominance on global stage. The country’s earlier efforts to remove US Dollar from its economy not get much success yet.

Russia’s central bank and finance ministry are before long anticipated that would introduce measures to build the utilization of different currencies in worldwide exchange to Prime Minister Dmitry Medvedev.

Analysts cautioned that the errand Russia faces is immensely yearning yet that an eccentric US strategy, new US sanctions against Iran and US trade war with China could in certainty assist Russia.

Russia, which has been abrading under US sanctions since 2014, has officially built up its own framework for monetary exchanges to help shield itself from a potential restriction from SWIFT. However, it is an international bank messaging system.

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