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Putin Sets Tense Tone Ahead Of Meeting With President Joe Biden
Posted
June 5, 2021
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2:11Now PlayingPresident Vladimir Putin said Russia doesn’t want to stop using the dollar as he accused the U.S. of exploiting the currency’s dominance for sanctions and warned the policy may rebound on Washington.
Russia has to adopt other payment methods because the U.S. “uses its national currency for various kinds of sanctions,” Putin said late Friday in St. Petersburg at a videoconference with representatives of international media organizations. “We don’t do this deliberately, we are forced to do it.”
Settlements in national currencies with other countries in areas such as defense sales and reductions in foreign-exchange reserves held in dollars eventually will damage the U.S. as the greenback’s dominance declines, Putin said. “Why do U.S. political authorities do this? They’re sawing the branch on which they sit,” he said.
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