Russia wants to ditch United States dollar in favor of national currencies trade in between SCO countries

Changing from the United States dollar to sell national currencies is one of the most prospective areas of cooperation for the Shanghai Cooperation Organization (SCO), according to Russian Prime Minister Mikhail Mishustin.

Speaking at an SCO meeting on Monday, Mishustin said the ” development of option, dollar-independent settlements” is an important issue. “We consider it guaranteeing to expand the practice of shared settlements in nationwide currencies,” he specified.

The PM stressed that the members of the organization should deal with a collaborated approach on the matter and further talk about the funding system for SCO jobs.

Likewise on
BRICS+ countries will have their own monetary systems to avoid dollar & drunken sailors at printing presses– George Galloway

Throughout the SCO summit held previously this month, one member of the group, Kazakhstan, also voiced assistance for improving trade in nationwide currencies in between the partners.

The SCO was developed in 2001 by six founding states– Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

Also on
Euro beats United States dollar as world’s most used currency, SWIFT states

For more stories on economy & financing see RT’s service section

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button