Russian Foreign Minister Sergey Lavrov, who is in China today, and meeting with Foreign Minister Wang Yi today and tomorrow, told Chinese media in an interview published today that the risk of U.S. sanctions needs to be alleviated by switching to alternative currencies, and by moving away from using the dollar. “We need to reduce sanctions risks by strengthening our technological independence, by switching to payments in national currencies and in world currencies, alternative to the dollar. We need to move away from the use of Western-controlled international payment systems,” Lavrov said in an interview with Chinese media published by the Russian Foreign Ministry. [https://www.mid.ru/en/foreign_policy/news/-/asset_publisher/cKNonkJE02Bw/content/id/4646592]
Foreign Minister Lavrov said the U.S. is aiming to limit the technological development of Russia and China, so the two countries need to strengthen their independence.
“So, we must reduce our exposure to sanctions by strengthening our technological independence and switching to settlements in national and international currencies other than the dollar. We need to move away from using Western-controlled international payment systems.
“The circumstances make us build our economic and social policies to make sure we remain unaffected by our Western partners’ quirks. They are promoting their ideology-driven agenda aimed at preserving their dominance by holding back progress in other countries. Their policies run counter to the objective international developments and, as they used to say at some point, are ‘on the wrong side of history.’ The historical process will come into its own, no matter what happens,” Lavrov declared.
