Russia's bid to ditch the US dollar is slowly working but obstacles remain

Section:

By Elliot Smith
CNBC, New York
Friday, September 27, 2019

In an effort to insulate the Russian economy from U.S. sanctions, the Kremlin has made "de-dollarization" a long-term priority but will be forced to rely on the greenback for some time, according to economists.

Since 2013, the Central Bank of Russia has been trying to reduce the number of transactions conducted in U.S. dollars, either for domestic payments or foreign trade.

... Dispatch continues below ...



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Russia has repeatedly faced U.S. and European Union sanctions since 2014 for reasons ranging from its annexation of Crimea to the poisoning of an ex-spy in the U.K. as well as online meddling in the 2016 U.S. election. ...

... For the remainder of the report:

https://www.cnbc.com/2019/09/27/russias-bid-to-ditch-the-us-dollar-is-sl...

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