Russian FM: Moscow not to be using dollar in future

Russia says it will not be using the “unreliable” US dollar in its cross-border trade since the United States does not ensure the global role the green back plays.

Foreign Minister Sergey Lavrov said on Friday Moscow will continue to promote broader trade relations with “friendly” countries.

However, due to the unreliability of the US dollar, Moscow will also promote using local currencies, Lavrov said.

Boosting the use of local currencies will cut the green back’s share in Russia’s international trade, the minister said.

“We obviously are not developing our line against the US, against the West. It’s not that we want to ruin the dollar. The US no longer ensures the dollar’s global role that could satisfy everyone. That’s the problem,” Lavrov told students at the Moscow State Institute for International Relations (MGIMO).

Lavrov said other blocs and organizations such as the BRICS, CSTO, CIS, EEU, and SCO in particular, were working “on the basis of consensus.”