Russia Proposes Return to U.S. Dollar Settlement in Strategic Reversal

An internal Kremlin memo outlines a seven-point pitch that includes abandoning the aggressive de-dollarization policy.

Summary

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Terms & Concepts
  • De-dollarization: The process by which a country reduces its reliance on the U.S. dollar for international trade, reserves, and financial transactions.
  • Settlement System: The infrastructure and procedures used to facilitate the final transfer of funds between parties to complete a financial transaction.