Russia’s Deputy PM: world is switching from using G7 currencies to other settlement systems
The world is moving to new alternative payment systems – as stated by Russia’s Deputy Prime Minister Alexander Novak, sb.by reports
According to TASS, the Deputy Prime Minister said, “The old system, when the currency of Western countries, of the G7 members was dominating, is changing dramatically today, and the whole world is actively implementing alternative payment systems. Both blockchain systems and independent financial infrastructure settlement mechanisms between countries are getting widely introduced, and many states are naturally switching to payments in national currencies. For example, I can say that more than 50 percent of all payments in Russia are made either with the use of the [Russian] Rouble or the currencies of friendly countries. This figure even exceeds 90 percent of settlements with many countries, our main partners.”
Mr. Novak added that many countries are now trying to diversify their settlements. “This is also a trend that will change the global economy,” the Deputy Prime Minister stressed.
