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Russia proposes to negotiate a new world financial order

Rusia, propuesta, nuevo orden, financiero, mundial

Russia proposes to negotiate a new world financial order

Moscow, Mar 30 (Prensa Latina) The vicepresident of the Russian Security Council, Dmitri Medvedev, said that due to the current situation the world powers will be forced to negotiate a new financial order.
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According to the official, in that case, the decisive world will be played by countries with strong and developed economies, solid public finances and reliable monetary system.

On Medvedev´s opinion, a new age of regional curruncies in which the world wakes up and confidence in reserve curruncies “dissipates like the morning fog”.

He suggested that “to end the dollar and the euro as the world´s main reserves does not seem a very fantastic prospect”.

On March 18, Russian Economic Development Minister, Maxim Reshetnikov, said that the member countries of the Euroasian Economic Union (EAEU) agreed to gradually move payments in national currencies.

The high-ranking official explained to the Russia 24 TV channel that at the moment these transactions are carried out in foreign currency, which is an obstacle for trade and business in the EAEU, taking into account the more than 6,300 sanctions applied against Russia, the main economy of the group.

“Therefore, we have started to form a common ruble space,” Reshetnikov stressed, referring to the bloc of countries comprising Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, plus Moldova, Uzbekistan and Cuba which have observer status.

The Russian Minister of Finance, Anton Siluanov, warned on March 13 that the country has some 300 billion dollars, almost half of its international reserves, frozen due to foreign sanctions.

The national authorities approved a set of economic and financial provisions to face the foreign punitive measures applied against the country, most of them after the beginning of the military operation in Ukraine last February 24.

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