Russian President Vladimir Putin Criticizes the ‘Use of the Dollar as a Political Weapon’

Russian President Vladimir Putin has railed against utilizing the dollar arsenic a governmental limb successful a gathering with the New Development Bank’s president, Dilma Rousseff. Putin stated that this weaponization and the caller developments successful planetary concern analyzable the institution’s maturation to assistance third-world countries facing hard conditions.

Russian President Vladimir Putin Talks Dollar Weaponization successful Recent Meeting

Russian President Vladimir Putin referred to the weaponization of the dollar and its effects connected the planetary system successful a caller gathering with Dilma Rousseff, president of the New Development Bank (NDB) — besides known arsenic the BRICS slope — during the 2nd Russia-Africa Summit held successful Saint Petersburg. Putin explained this weaponization analyzable Rousseff’s task of increasing and processing the NDB’s relation successful the existent planetary arena.

Talking to Rousseff, Putin stated:

I americium assured that … you volition marque each effort to make this institution. In the existent conditions, it is not casual to bash so, fixed the developments successful planetary concern and the usage of the dollar arsenic a governmental weapon.

Furthermore, Putin declared that the BRICS countries (Brazil, Russia, India, China, and South Africa) were “increasing the usage of nationalist currencies successful their communal settlements,” mentioning that the NDB mightiness person a relation to play successful boosting these associated activities.

Rousseff’s Statements

Rousseff stated that adjacent arsenic the slope faces liquidity problems, the instauration is called to make a much important relation successful the emerging multipolar satellite order. She explained:

The slope should play a large relation successful the improvement of a multipolar, polycentric world. We indispensable enactment to pull concern successful the markets of our partners.

Putin had declared antecedently that this caller multipolar satellite already being shaped volition beryllium “more conscionable and democratic.” Rousseff besides talked successful favour of utilizing nationalist currencies for planetary trade, stating:

I besides judge that the countries of the processing satellite tin freely marque their overseas commercialized transactions betwixt themselves successful their nationalist currencies.

The Roscongress Foundation, a Russian deliberation vessel that sponsors the Russia-Africa Summit, had profiled the relation of the NDB arsenic a counterpart to the International Monetary Fund (IMF) successful a study published successful May. In Roscongress’ vision, the slope could contented “energy loans” based connected the vigor exporting capabilities of each member.

These vigor loans would beryllium secured done the NDB, being liquid owed to its multi-currency nature, akin to the IMF’s Special Drawing Rights (SDR).

What bash you deliberation astir Putin’s statements connected the weaponization of the U.S. dollar? Tell america successful the comments conception below.