Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iranian state media: The fourth round of nuclear talks between Tehran and Washington has kicked off in Oman
Senior Israeli intelligence official: Contacts are underway between Syria and "Israel" to retrieve the body of the spy Eli Cohen
Reuters: US and Chinese officials met again in Geneva to resume trade talks
Al Mayadeen's envoy: The process of uranium enrichment is the main obstacle in the talks
Al Mayadeen's envoy to Muscat, quoting a source in the delegation engaging in the nuclear talks: If we see that the other party deviates from the agreed-upon frameworks, we will not continue the talks
Al Mayadeen's envoy to Muscat, quoting a source in the delegation engaging in the nuclear talks: Iran is ready to reassure all parties that its nuclear program will remain peaceful
Araghchi: Iran's position on its right to a nuclear program is firm, but we are ready for greater transparency and hope that the other side's approach will be clear
Araghchi: Uranium enrichment is a valuable achievement for the Iranian people and is non-negotiable
Araghchi: Iran's nuclear program is legitimate and legal, and all our activities are peaceful and have been and will remain under the supervision of the International Atomic Energy Agency
Araghchi: Unlike the opposing side, Iran's positions are clear and proceeding steadily

Russia abandons the Dollar

  • By Al Mayadeen
  • Source: Agencies
  • 6 Jun 2021 15:20
  • 2 Shares
2 Min Read

Russian President Vladimir Putin announces his country is ready to charge exported gas in euros or national currencies instead of dollars and his finance minister says that his country has changed its strategy and intends to bring dollar reserves to zero.

  • x
  • Putin: Our partners are ready to talk about settlements in euros.
    Putin: Our partners are ready to talk about settlements in euros.

Russian President Vladimir Putin announced that Russia is ready to consider the possibility of paying for gas in euros and the national currencies of the countries it deals with.

In his speech at the St. Petersburg International Economic Forum, Putin explained that depositors "still prefer to deal in dollars," noting that the matter is different between oil and gas, as "oil is more linked to the dollar because it is a commodity exchange."

He continued: "As for gas, it is not a commodity exchange, so we are ready to consider the possibility of settlements using national currencies, which we are doing with many countries, and our partners are ready to negotiate to work with euros.”

Putin also announced the first line of the "Northern Stream 2" pipeline being completed and affirmed that work is ongoing on the second line, which will be completed within a month and a half to two months.

Related News

Dollar declines as investors await progress in trade talks

European markets rise as dollar slumps amid 'Trumpcession' fears

In the same context, Russian Finance Minister Anton Siluanov, for his part, announced, in the same forum, a change in the Russian National Welfare Fund's strategy within the period, specifically concerning the dollar, to bring down the US currency reserves to zero.

He added that besides replacing the dollar reserves with other currencies, gold reserves will be included in the fund.

The minister pointed out that the British pound's reserves will be raised to 5%, the euro's share to 40%, the Chinese yuan's share will be increased to 30%, and the gold's share to 20%.

Moscow established the National Welfare Fund about 10 years ago and accumulated a part of oil revenues in it during the boom in its prices to let it be a safety card for the country during crises and low prices of crude oil.

It is noteworthy that oil prices fell globally last week amid the lack of organization in receiving anti-Corona vaccines and the slow vaccination process in developed and emerging Asian countries alike.

  • Vladimir Putin
  • Gas prices
  • Dollar
  • Euro

Most Read

Trump cut off contact with Netanyahu, senior Israeli official says

Trump cut off contact with Netanyahu: Israeli media

  • US & Canada
  • 9 May 2025
Pakistan downs an Indian jet and hits a military base in Kashmir escalation.

Pakistan downs 3 Indian jets, hits military base in Kashmir escalation

  • Politics
  • 7 May 2025
Yemeni missile hits Ben Gurion Airport as interceptors fail

YAF targeted Ben Gurion with hypersonic ballistic missile: Saree

  • MENA
  • 4 May 2025
"Israel" appears to be the only place in the world where there are actual demonstrations defending rapists as national heroes precisely because of their crimes. (Al Mayadeen English; Illustrated by Batoul Chamas)

'Israeli pride' - Celebrating rape in the Zionist entity

  • Opinion
  • 4 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Palestinians inspect the damage caused by an Israeli airstrike that targeted displacement tents in Deir al-Balah, in the central Gaza Strip, Wednesday, May 7, 2025 (AP)
Politics

Liberated prisoner Yousri al-Masri martyred in Gaza airstrike

AP
Politics

US envoy to deliver 22-point Ukraine peace plan to Putin

AP
Politics

Pakistan denies violating ceasefire as tensions flare along border

AP
Politics

Israeli media blasts Netanyahu over US ties, war failures

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS