JRL NEWSWATCH: “Putin Push to Dump Dollar Proves Hard Sell With Russia Inc.” – Bloomberg/ Natasha Doff, Evgenia Pismennaya, Anna Andrianova, Annmarie Hordern, Andrey Biryukov, Anna Baraulina, Ilya Arkhipov, Yuliya Fedorinova

File Photo of Assorted U.S. Cash, adapted from image at tsa.gov

“Russia’s central bank dumped $101 billion last year in its biggest-ever shift away from the U.S. currency amid fears of new sanctions. But the Kremlin’s drive to wean the rest of the economy off the greenback has been slower going. Despite … Putin’s regular public exhortations to accelerate ‘de-dollarization,’ even the country’s state-owned companies are sticking to the currency. Shifting […]

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RUSSIALINK: “No rapid de-dollarization, national currency settlements pose certain risks – Kudrin” – Interfax

Alexei Kudrin file photo

MOSCOW. Nov 22 (Interfax) – There will be no rapid de-dollarization in settlements which, when conducted in other national currencies, including those of Eurasian Economic Union countries, pose certain currency risks, said Alexei Kudrin, head of the Russian Accounts Chamber. “I’m in favor of a company being able to choose [the currency of settlements], which would be in keeping with […]

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The Biggest Threat To Dollar Dominance

Diverse Paper Currency, Coins, Line Graph

(Oilprice.com – Irina Slav – November 12, 2018) Russian oil exporters are pressuring Western commodity traders to pay for Russian crude in euros and not dollars as Washington prepares more sanctions for the 2014 annexation of Crimea by Moscow, Reuters reported last week, citing as many as seven industry sources. While it may have come as a surprise to the […]

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Putin: Russia Looks To Get Free Of U.S. Dollar ‘Burden’ In Oil Trade

Offshore Oil Rig file photo

(Oilprice.com – Tsvetana Paraskova – May 9, 2018) Russia is mulling over ways to ‘get free’ of the U.S. dollar burden in oil trade as part of a plan to boost its national economic sovereignty, Russian President Vladimir Putin said. “Oil is traded in dollars on the exchange,” TASS news agency quoted Putin as saying. “Certainly, we are thinking about […]

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De-dollarization of economy, banking system proceeding at full speed, to continue – Central Bank

Diverse Paper Currency, Coins, Line Graph

MOSCOW. Jan 24 (Interfax) – De-dollarization of the #Russian economy and #banking system is proceeding at full speed given the preferences of the public and companies and this process will continue, the head of the Central Bank of #Russia’s research and forecasting department Alexander #Morozov said at a roundtable in the State #Duma. “De-dollarization in the economy is proceeding at […]

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Dollar Falls to Under 60 Rubles for the First Time Since July 2015

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – January 5, 2017) As most Russians enjoy a week-long holiday vacation, the country’s ailing currency is also having a happy new year. Today, during trading on the Moscow Stock Exchange, the U.S. Dollar’s value fell to less than 60 rubles for the first time since 2015, the RBC newspaper reported. At 2:19 p.m. Moscow time, […]

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Interfax: Russian pollster says citizens increasingly concerned about rising dollar

File Photo of Cash, Coins, Line Graph

(Interfax – Moscow, October 27, 2014) Fourty-five per cent of Russian residents are now concerned about an increase in the dollar rate – this indicator has increased significantly compared with last year, when only 26 per cent of respondents worried about this, Levada Centre [independent research organization] sociologists have told Interfax. At the same time, 52 per cent of Russian […]

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Russia-China gas deal spells trouble for the dollar

China Map

(Business New Europe – bne.eu – INVISIBLE HAND – Liam Halligan in London, Editor-at-Large of BNE – May 28, 2014) The St Petersburg International Economic Forum (SPIEF), now in its 18th year, was less well attended than usual. The absence of various US and Western Europe CEOs, responding to pressure from their governments following sanctions on Russia, was heavily commented […]

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Interfax: Most Russians prefer ruble savings but oppose dollar ban – poll

File Photo of Cash, Coins, Line Graph

MOSCOW. Nov 22 (Interfax) – The percentage of Russians who have savings has hit its highest point in the past few years. The ruble remains the most popular currency of savings, but Russians do not want to abandon the dollar or euro either, sociologists said. Some 22% of the respondents said they had savings in fall 2008. The percentage grew […]

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