Sergei Ryabkov, Russian Deputy Foreign Minister, stated the U.S. dollar, Federal Reserve Note, was an enemy to Russia. He went on to proclaim that Russia would be moving away from using the “world reserve currency” and making other arrangements to conduct global trade.
Earlier Sergei Ryabkov said that it is important for Russia to create a working economic system that would be less dependent on the US dollar and on the US financial system as a whole. Otherwise, Ryabkov warned, the US will be able keep Russia “on the hook, which is exactly what they (the US) want.” Source – Sputnik News
Now we see Russia making not just one move to improve their situation but two major steps are either in place or moving toward the exit from the Federal Reserve Note as unit of account for global trade settlement.
Then in early May 2018 we were following as the Russian’s were, once again, making moves away from the U.S. dollar and discussing the Chinese launch of the yuan priced futures oil contract.
Russia and Saudi Arabia have de facto accepted responsibility for the stability of the global oil market by working out an agreement which may pave the way for a new global oil market and oil price regulation mechanisms, Russian analyst Dmitry Lekuh said. Source