https://sputnikglobe.com/20220729/lavrov-sco-leaders-will-discuss-settlements-in-national-currencies-1097934222.html

Lavrov: SCO Leaders Will Discuss Settlements in National Currencies

Lavrov: SCO Leaders Will Discuss Settlements in National Currencies

Sputnik International

TASHKENT (Sputnik) - The leaders of the Shanghai Cooperation Organization (SCO) will discuss way to increase the amount of settlements in national currencies... 29.07.2022, Sputnik International

2022-07-29T13:58+0000

2022-07-29T13:58+0000

2022-07-29T14:00+0000

sergey lavrov

shanghai cooperation organisation (sco)

currency

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"Today we agreed to submit a proposal for specific actions for the transition to settlements in national currencies for consideration by the leaders," Lavrov told reporters.The minister stressed that the decision to switch to national currencies, thus dropping the US dollar from transactions, should be made independently by each SCO nation."Each SCO country should decide for itself how at ease it is when relying on the dollar, given that it is an utterly unreliable currency," Lavrov said.Russia has been promoting the establishment of an independent and efficient financial system based on the use of national currencies in transactions after Western countries froze Russian foreign currency reserves and disconnected multiple Russian banks from SWIFT, imposing illegitimate disruptive sanctions on the country over its military operation in Ukraine.

2022

News

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sergey lavrov, shanghai cooperation organisation (sco), currency