Russia is gradually getting rid of the dollar and the euro, says Siluanov

International News

On Oct 24, 2022

Moscow, (ST) – Russian Finance Minister Anton Siluanov announced that Russia is gradually getting rid of the dollar and the euro in its market as “toxic currencies”, which leads to the strengthening of the ruble.

“The detachment from the dollar and the euro has already begun, and the ruble will be replaced by export goods wherever possible,” Siluanov said in an interview carried by Sputnik.

“The Russian Finance Ministry does not plan to completely abandon the dollar peg in order to exchange goods, however, for tax purposes, their price is recalculated into the ruble,” Siluanov added, stressing that this will not remain forever.

Russian President Vladimir Putin confirmed earlier that Russia will continue to switch to national currency settlements in exchange for exports of Russian energy resources.

Raghda Sawas

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