Putin Says Russia Won’t Fully Ditch the U.S. Dollar After Trump’s Comeback
Vladimir Putin has reversed his stance on challenging the U.S. dollar, a surprising shift following Donald Trump’s return to U.S. politics.
This has rekindled global focus on their controversial relationship, which has fueled both political intrigue and speculation since Trump’s presidency. Trump’s admiration for Putin was no secret, with him praising the Russian leader even during global crises, including Russia’s actions in Ukraine.
Even post-presidency, Trump has reportedly kept in touch with Putin, with journalist Bob Woodward revealing private phone calls between the two. Notably, Trump is said to have sent rare COVID-19 test kits to Putin in 2020, further complicating their ties.
READ MORE: When Can We Expect Gensler’s Resignation and a Crypto-Friendly SEC Under Trump?
This connection also impacts U.S. foreign policy, particularly regarding Ukraine, where Trump has expressed a desire to end the conflict quickly, potentially conceding to Putin’s demands. Meanwhile, Russia, alongside BRICS nations, has pushed for a move away from dollar reliance.
In 2024, Putin aims to establish a multi-currency system and bypass the U.S.-dominated SWIFT network by incorporating blockchain and CBDCs into trade among BRICS countries. However, challenges remain in creating a viable alternative, with technical issues and political differences between BRICS members complicating the effort.
Despite these hurdles, the bloc continues to push forward with plans to reduce reliance on the U.S. dollar.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
