Organized with the support of VTB Bank, SPIEF’s “New Realities of the New World: A Game Without Rules?” Speaking at the session, VTB President Andrey Kostin said that the dollar is the most powerful weapon of the USA. this allows them to dominate and intimidate other countries.
“Once a unit of account turns into a weapon, we have no choice. And I’m sure, seeing how many of our friendly partners are acting, they’re not afraid of the nuclear arsenal in the United States, of military power, or even of economic power. They’re afraid of one thing – breaking away from the dollar. That’s the United States of America. It is the most powerful weapon that .
Kostin added that Russia has no choice but to follow the path of de-dollarization.
“We have a way – de-dollarization. We have no choice. It is vital for us to develop alternative channels for international settlements. And these are of course payments in national currencies,” he said.
Continuing Kostin’s thoughts, Deputy Presidency Maxim Oreshkin emphasized that the dollar has become a drug that the whole world is addicted to.
“I can say that the dollar is not a weapon. This is the settlement of the whole world, service to the banking system, etc. It is a drug that he is addicted to. Of course, quitting a drug is not an easy story. But the realization that this is a blessing, not a medicine, is now growing in the world, in most of this world,” he said.