Lavrov: Europe eyes moving away from US dollar dependence

13:34, 25 December 2020
Lavrov: Europe eyes moving away from US dollar dependence Photo: Sergey Bulkin/NEWS.ru

European countries are looking for ways to get away from US dollar dependence due to Washington’s abuse of the role of the dollar, Russian Foreign Minister Sergey Lavrov said at a meeting with participants in the annual scientific and educational program ‘Dialogue for the future’ of the Alexander Gorchakov Public Diplomacy Fund (Russian think tank) via videoconference.

What is happening with the abuse of the US dollar role is already a concern not only for countries against which the US is declaring illegitimate sanctions, simply perverting its role as an issuer of one of the major world currencies but also for other countries, the Russian minister stressed.

Lavrov noted that in addition to Iran, Russia, China, and members of the Shanghai Cooperation Organization, Europe is increasingly thinking about switching to mechanisms based on national currencies.

The euro has a reasonably stable position in Europe, allowing it to move away from any dependence on the US dollar, he added.

NEWS.ru reported earlier that the US Department of Commerce released a list of 103 companies from China and Russia associated with the military forces subject to export restrictions.

Russian President’s Spokesman Dmitry Peskov assessed the new US sanctions as another hostile step by Washington, which is increasingly delaying the possibility of normalizing relations between the two countries.