Asian, European Nations Seeking to Minimize Dependence on US Dollar – Kremlin

KHABAROVSK (Sputnik) - More and more countries in Asia and Europe are seeking an alternative to the US dollar as Washington has been undermining trust in what has been the world's main reserve currency over years, Kremlin spokesman Dmitry Peskov told the Rossiya 1 TV channel Sunday.

“All of a sudden, the country, which issues the US dollar, starts making steps which are shattering trust in this reserve currency. More and more countries, not only in the East but also in Europe, start mulling ways to minimize their dependence on the US dollar. They suddenly realize: A. it is possible, B. it should be done, and C. save yourself if you can, it should be done as soon as possible,” Peskov said.

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The spokesman, however, noted that “it is not so easy to replace the [existing] system” with a new one, stressing that the trend of searching for an alternative to the US dollar was evident.

The idea of a gradual switch to the use of national currencies in bilateral transactions has recently gained momentum in a number of countries in the light of US restrictions against Russia and Iran and subsequent secondary sanctions.