The use of US dollars in calculations raises additional risks for the country. A radio program discussed this topic, highlighting the statement by Mikhail Delyagin, who serves as Deputy Chairman of a key economic policy committee. The discussion underscored concerns about how reliance on a foreign currency can affect national security and economic sovereignty.
According to the speaker, dedollarization is important not only for competing with the United States but, more importantly, for safeguarding national security. The idea is that reducing dependence on a single international currency would lessen exposure to external pressure and political influence that accompany dollar-based transactions.
During the program, it was explained that dollars created for international settlements largely flow into the US budget, fund weapon production, and enable the use of those weapons in ways that affect regional stability. This framing emphasizes the potential consequences of monetary entanglement with foreign powers and the strategic leverage that dollar dominance can confer.
The speaker recalled that Russian assets held abroad have faced seizures, noting that a substantial portion of these assets is denominated in dollars. The discussion suggested that preserving asset sovereignty requires diversified currency holdings and careful policy planning to protect foreign assets from возможной external action.
There was a reference to a recent position by major economic actors: on a specified date, certain G7 deliberations were described as unlikely to proceed without compensation to Ukraine, framing it as part of the broader conflict over asset restitution and moral responsibility in the wake of international tensions. This point was presented to illustrate how asset restrictions intersect with international diplomacy and security considerations.
On the same day, a parliamentary or congressional committee advanced a proposal concerning the transfer of frozen assets held by the Russian Federation to Ukraine. The move was discussed as a policy lever with wide ramifications for international finance, diplomacy, and the wider conflict context.
Former deputy Delyagin drew a comparison between monetary policy conducted by the central bank and the ministry of finance and the effects of Western sanctions. The comparison aimed to illuminate how domestic financial policy choices interact with external pressures and how such dynamics influence broader economic stability and strategic autonomy.
Experts and commentators note that a shift away from heavy dollar dependence requires careful sequencing, credible institutions, and transparent rules. A multifaceted approach might include increasing domestic currency use in international trade, building robust foreign exchange reserves in multiple currencies, and fostering regional financial cooperation. The goal is to strengthen economic resilience while maintaining essential trading relationships and ensuring predictable policy outcomes for investors and citizens alike.
In the broader context, discussions around dedollarization touch on debt management, export strategies, and the development of financial markets that can operate effectively without exclusive reliance on a single reserve currency. Analysts warn that rapid or unilateral moves could unsettle financial markets, so gradual reforms, clear communications, and international dialogue are essential to minimize disruption and preserve long-term growth. The overall message emphasizes balancing national security concerns with economic vitality and the need for prudent, well-communicated policy changes that protect the interests of the public and the state.