Putin: Russia ditches 'toxic' Western currencies as ruble takes over export payments

Putin: Russia ditches 'toxic' Western currencies as ruble takes over export payments

The share of ruble settlements for Russian exports is nearing 40%, while the use of Western currencies is declining, President Vladimir Putin has announced.

"Last year, the share of so-called 'toxic' Western currencies in export payments halved. Meanwhile, ruble settlements in foreign trade are approaching 40%, and we continue to work in this direction," Putin said at an expanded meeting of the State Council Presidium.

He added that from 2021 to 2023, the ruble's share in export payments nearly tripled, reaching 39%, and ruble settlements for imports grew to 30%.

Putin also emphasized ongoing global efforts to create supranational payment systems using central bank digital currencies and financial assets, noting that these systems would function independently of third countries.

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Source: Sputnik International
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