Ex Russian Finance Minister Mikhail Zadorov said that for a wide transition to regional currencies in trade, the world will need about another ten years of a wide transition.
He clarified that at the same time, at the moment, the dollar occupies a dominant position with a share of 60 %.
“The process of gradual development of settlements in regional currencies continues most actively in the post-Soviet space. I think that this process will be quite long from a global point of view. We will see the results of these changes on the horizon of ten years,” Zadornov said.
According to him, the predominance of a particular currency is determined by the costs for the buyer and seller of goods. At the same time, the global financial system is disintegrating, as various barriers are created.