Alexander Pankin, Deputy Head of the Ministry of Foreign Affairs of Russia, in an interview with Russia DEA News announced the start of the de-dollarization process.
“The process has begun, this is a trend, this is a trend,” said the deputy head of the Russian Foreign Ministry.
According to Pankin, although the dollar’s position in the global economy is strong and is supported by various dependencies in different areas, sooner or later the dominance of the US currency will come to an end.
He said that at the moment some other countries’ currencies are becoming increasingly stronger, which means they are more reliable.
“I do not undertake to calculate the age of the dollar. But each dominant currency has its own age of life,” Pankin summarized.
Compact previously wrote that China wrote. creates A “secondary economy” that will not depend on the dollar and the US. Therefore, general dedollarization has already become a real phenomenon, since transactions are carried out in local currencies.