"If in early 2022, export payments were carried out in currencies of unfriendly states [mainly, the dollar and the euro], the share of 'toxic' currencies in these payments fell to 48% by late 2022. By May 2023, the share was less than 36% and there is a good tendency for a further decrease," Vakhrukov said at the St. Petersburg International Economic Forum.
Amid a changing global economic and political situation, the priority for most countries that pursue an independent policy should be the creation of an alternative international financial architecture, the Russian official stated. This issue was especially acute for Russia, which had ended up in a difficult situation due to Western sanctions, he added.
The St. Petersburg International Economic Forum is being held on June 14-17. Sputnik, a part of the Rossiya Segodnya media group, is an official media partner and the host photo agency for the event