Russia Maintains Dollar Trade in US Dealings Amid De-Dollarisation Push

In a strategic move, Russia has maintained its trade dealings with the United States using the dollar, despite its overarching policy to adopt national currencies in foreign trade. Kremlin spokesperson Dmitry Peskov confirmed the approach, suggesting it does not contradict Russia’s stance.

Peskov noted that Russia's transition to national currencies became necessary after Western sanctions froze its USD and Euro assets following the 2022 Ukraine conflict. The dollar, being the official currency of the United States, is deemed acceptable for bilateral trade with Washington, even as Russia advocates global de-dollarisation.

While Russia did not completely abandon the dollar, it calls for recognizing its competitive landscape against alternative currencies. Peskov acknowledged that if the dollar regains attraction, it would be utilized alongside other national currencies, already prevalent in trades primarily with India and China.