VLADIVOSTOK – The restriction of payments in dollars has led to the fact that all countries are thinking about payments in national currencies and keeping savings outside the United States, as trust in the West is being undermined, Russian President Vladimir Putin said on Tuesday, reported Sputnik.
"For example, restrictions on payments in dollars. Where does this lead? Because all countries are thinking about creating their own instruments, about creating new payment systems, they are thinking about whether it is worth keeping their savings in the United States or somewhere in Europe, whether it is worth investing their savings in the securities of these countries," Putin said at the plenary session of the ongoing Eastern Economic Forum (EEF) in Vladivostok, adding that "trust (in those who impose these restrictions) is being undermined".
Additionally, the president said it is necessary to reach an agreement with businesses so that they understand that it is more reliable to work in Russia.
"Today, the logistics chains for the supply of goods have almost been restored, everything has somehow returned to normal. Well, we see that this is also connected with the exchange rate of the national currency, among other things," Putin said, adding that the state and businesses should be equal partners.
The eighth edition of the EEF is taking place on the campus of the Far Eastern Federal University from Sept 10 to 13. RIA Novosti is the official media partner of the forum. – Bernama-Sputnik, September 12, 2023
TAGS: Russia, business, currencies, west
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