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UN, April 19 The process of de-dollarization has begun, sooner or later the dominance of this currency will come to an end, said Deputy Foreign Minister Alexander Pankin.
Answering the question about when Russia will be able to completely get rid of the dollar and how this will affect the American position in the international sphere, Pankin said: «The process has begun, this is a trend, this is a trend.»
«Of course, the position of the dollar is strong in the global economy, of course, there are a number of dependencies. The dollar is not only a financial instrument. American policy reinforces it with other types of dependencies, a network of relations in the military-political sphere, economic and so on,» he said.
However, according to the Deputy Foreign Minister of the Russian Federation, a number of countries are mindful of the risks and fears associated with the dollar.
“Now many countries are becoming stronger, stronger, and, accordingly, there is more confidence in their currencies. I don’t know if the dollar as such will disappear,” Pankin said.
«I read somewhere recently and saw this table, who dominated how much. Once upon a time, the Dutch guilder, the Portuguese escudo dominated — moreover, 80 years, 100 years, the pound sterling. Literally dominated as the main world issuer , was associated with empires. It was a long time ago, 17th, 18th, 19th centuries. The dollar is not the first currency in the world that dominates for a long time. I can’t presume to calculate the age of the dollar. But each dominant currency has its own age of life, «concluded he.