Russia and Islamic Nations Embrace De-Dollarization Together
According to a recent report, discussions are underway between Russia and Islamic nations regarding de-dollarization and the state of the global financial system.
Alexey Overchuk, Russia’s Deputy Prime Minister, stated that these talks are part of a broader examination of current global shifts.
The agenda primarily focuses on de-dollarization, financial autonomy, industrial production, energy security, and food security.
Overchuk emphasized that these global shifts, including the processes of de-dollarization and the establishment of an independent financial system, influence the relationship between Russia and Islamic countries.
This comprehensive agenda reveals a promising future with significant positive prospects for Russia’s relations with Islamic states.
The government is actively involved in facilitating further development along these lines.
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Following a series of international sanctions due to its actions in Ukraine, Russia has expanded its financial connections with Iran.
Forbes reports that VTB, Russia’s second-largest bank, recently inaugurated a representative office in Iran, while two Iranian banks are preparing to establish physical branches in Russia.
Alexander Novak, Russia’s Deputy Prime Minister, revealed that approximately 80% of mutual settlements between Russia and Iran now occur in rials and rubles rather than the US 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.
