President Vladimir Putin said that Russia does not renounce the US dollar as a universal reserve currency, TASS reports.
"Russia does not renounce the dollar as a universal reserve currency," the Russian leader said at a press conference following the results of the BRICS summit.
"We are not going to make any drastic moves, we are not going to renounce the dollar, we are using it and will use it as far as the financial authorities of the United States do not hamper the use of the dollar in settlements," Putin said.
He noted that the euro also can "more or less" claim the status of a universal reserve currency but "not in full".
"Therefore, we are quite aware of what the dollar represents today," the Russian president concluded.
Speaking about reserve currencies in general, Putin noted that some currencies can play the role of "regional reserve currencies." In a way, the Russian ruble is such currency in relation to the CIS countries or the countries of the EAEU (Eurasian Economic Union).
"But, in general, any national currency is so strong and good as the economy that is behind it is strong and good. Therefore, we must proceed from this fundamental factor," the Russian leader stressed.
"As for the dollar, we should minimize risks, because we see what is going on due to these sanctions, these actually unlawful limitations. We are aware of these risks and are trying to minimize them," Putin said.
He drew attention to the fact that not only Russia but many other countries are also concerned about the problem of the dollar as a universal reserve currency.
"A lot of countries state that it is necessary to expand the possibilities of global financing, the world economy and to create new reserve currencies. That will make the world economy and world finances more sustainable," the head of the Russian state said.