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Vladimir Putin: The US is making a big mistake by undermining confidence in the US dollar

Vladimir Putin

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The United States is making a big mistake by undermining confidence in the US dollar, according to the Russian President Vladimir Putin.

“It seems to me that our partners from the US are making a huge strategic mistake, because they undermine the credibility of the dollar as a universal and sole reserve currency, undermining the belief in it. In fact, they cut the branch on which they sit”, said Vladimir Putin.

According to the Russian president, the United States is making the “typical mistake” for the empires.

“People think nothing will happen. Everything is so powerful, everything is so strong and stable that it will have no negative consequences. But no. They come sooner or later”, said Vladimir Putin.

Earlier, the Russian government said it was working to reduce its dependence on the US dollar by stimulating the use of alternative currencies and creating mechanisms for transferring foreign trade contracts to national currencies.

The idea of ​​abolishing dollarization in the Russian economy is on the agenda since the US imposed economic sanctions on the country and its companies for the war in Ukraine.