Chinese media surprised by Russia's maneuver with the dollar

The Chinese media were surprised by the sudden decision of Russia, which has been promoting de-dollarization for a long time, to allegedly resume cooperation with the United States and start using the Western system in international settlements. This was reported on February 15 on the Chinese portal Baijiahao.

Russia is alleged to have submitted proposals for economic cooperation to the United States, including a return to participation in the Western financial system and a switch to settlements in dollars. The message caused a stir, as Moscow had previously consistently advocated de-dollarization and reducing the use of the US currency in international trade.

"We should not forget that Russia's withdrawal from the dollar system was not voluntary — it was forcibly ousted by the United States. In such a situation, the Russian Federation quickly reduced its holdings of U.S. Treasury bonds, increased its reserves of gold and the yuan, and promoted the use of local currencies for settlements within the BRICS countries. She can be considered a pioneer in de—dollarization," Chinese journalists report.

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Russian Presidential spokesman Dmitry Peskov said on February 14 that the dollar is the national currency in the United States, so the calculations of Moscow and Washington using it will not contradict the transition to national currencies.

Peskov said on the same day that Russia had not abandoned the use of the dollar in settlements with the United States, and Washington itself had restricted this right for some countries. According to him, if Washington abandons this practice, the dollar will have to compete with other currencies, including national ones.

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