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Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

Russia may Abondon Dollar in Oil Trade

The dollar, which is considered to be the international currency, becomes a risky tool for payments.

 

The US dollar is not a reliable tool for payments in international trade, Russian Finance Minister Anton Siluanov told Russian media. Payments in national currencies might be used instead, he said.

In an interview to Rossiya 1 TV, the finance minister expressed doubt that the internationally recognized currency is reliable. Siluanov also said he does not “rule out” the possibility of switching to national currencies in oil trade.

“We have significantly reduced our investment in US assets. In fact, the dollar, which is considered to be the international currency, becomes a risky tool for payments,” he said in part of the interview aired on Sunday.

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