Date: 3 months ago   Category: Economy

Mass media have reported preparation by the Government of the Russian Federation of the plan for refusal of dollar — Rambler News Service


Mass media have reported preparation by the Government of the Russian Federation of the plan for refusal of dollar
Photo: Ramil the Government of the Russian Federation prepares for Sitdikov/RIA Novosti the plan for dedollarization of the Russian economy, The Bell with reference to three sources familiar with the discussion course writes. The corresponding project prepares "based on" the plan of the head of VTB Andrey Kostin. The edition notes that the prime minister of the country Dmitry Medvedev has to approve the document in one-two weeks. One of interlocutors of The Bell has reported that this plan doesn't provide any restrictive or prohibitive measures, that is "the ban of payments in dollars won't be". The main emphasis will be placed on creation of opportunities for payments in national currencies. Besides, there will be also an emphasis on simplification of currency control and liberalization of the currency legislation, has added other source. One more official has confirmed that he such bill of gradual withdrawal from payments in dollars providing including liberalization of the currency legislation, really prepares, however has emphasized that it is not a result of proposals of Kostin. According to the source, the plan is discussed still since the U.S. President Donald Trump has signed the law "About Counteraction to Opponents of America by means of Sanctions" (CAATSA). One of sources has told that there is a purpose — over time as much as possible to transfer calculations with China and the EU, being the main trade partners of Russia, respectively in yuans and euro, and in a case with the EEU countries — to rubles. The Bell notes that they participate in discussion of the plan the Bank of Russia, VTB and also other largest banks and experts. At the same time one of sources of the edition has emphasized that coercive measures for refusal of business of payment in dollars won't be. He has added that a main goal is creation of convenient mechanisms which will allow business to perfrom without excess losses calculations in any currencies. Earlier, in the middle of July, 2018, the head of VTB during the meeting with the President of Russia Vladimir Putin has said that the bank has prepared the draft of offers which are directed to expansion of use of ruble at international payments for development of the Russian market in placement of eurobonds, actions and creation of other derivative tools. On October 2 Andrey Kostin has said in an interview of RIA Novosti that Vladimir Putin in general has supported his plan for refusal of dollar. He has specified that process will last not less than five years.

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