Putin Blames U.S. Weaponization of the Dollar for Growing Shift Toward Alternatives
Moscow – Russian President Vladimir Putin has responded to the growing trend of countries seeking alternatives to the US dollar, blaming the United States for “weaponizing” the currency to achieve political goals. Putin’s comments come amid increasing efforts by nations, particularly within the BRICS bloc, to reduce their dependence on the dollar in global trade and finance.
In a statement made on December 1, Putin emphasized that the US has undermined the trust in the dollar by using it as a tool for political leverage. He also clarified that Russia is not actively rejecting or fighting against the dollar, but rather being pushed into seeking alternatives due to the US’s actions.
Putin’s Statement:
“Thank you very much, esteemed Ms. Rousseff. You said that the dollar is used as a weapon. Yes, we see it like this, because using the dollar, which remains a key instrument of global finance, to achieve political goals undermines trust in this currency and reduces its capabilities. But we are not the ones doing this; other people are. We are not rejecting or fighting against the dollar. If they don’t let us work on them, what can be done? We are forced to look for other alternatives, and that is exactly what is happening.
Putin Highlights Russia’s Push for Dollar Alternatives Amid Tensions:
Putin’s remarks underscore Russia’s increasing push to reduce reliance on the US dollar as Western sanctions and geopolitical tensions continue to fuel efforts for economic diversification. The Russian president’s statement also reflects broader concerns within BRICS countries, who are exploring alternatives to the dollar in a bid to establish a more multi-polar global financial system.