Russia says BRICS countries are chasing weakening US dollar status

During an interview with a local television station, Russian Deputy Foreign Minister Sergei Ryabkov stated that BRICS member countries are determined to put an end to US dominance over global finance.

The Deputy Minister referred Washington’s abuses of the US dollar’s privileged position as reserve currency, saying: “We need to find ways to mobilise the international community and make it more resistant to this trend.”

According to Ryabkov, the current situation is the result of “negligence on the part of the rest of the international community,” which did not provide for the possibility that US political elites would begin to abuse this position to the detriment of other countries.

He said that many nations, including Russia, have already felt the effects of this abuse and emphasized the conclusion that “it is necessary to diversify the world’s reserve currencies, expand trade in other currencies, and adopt schemes to dodge American banks.”

Ryabkov also noted that it is impossible to ignore the status of the US as a superpower, also in the field of finance, so common efforts are needed to change the situation.

Source: MNA/Sputnik

 

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