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12-11-2018 17:40 2868

DEDOLARIZACIA 1

 

Russia is making efforts to reduce dependence on the dollar; they have already brought some results.
This is reported in "The Wall Street Journal" article, published yesterday.

"Russia is trying to abandon the dollar, while its economy is feeling the pressure of US sanctions, the country is preparing for new restrictions, which are expected to be applied at the end of this month," the article says. “The so-called de-dollarization, which is protected by President Vladimir Putin and the Central Bank of Russia, should help soften the blow if Western sanctions are directed against the financial system,” the newspaper notes.

According to the newspaper, “the share of deposits of individuals and legal entities in foreign currency in September of this year decreased to 26% from 37% in 2016”.

In addition, "the share of export earnings in dollars in the second quarter of this year fell to 68 percent from 80 percent in 2013."

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