The days of US Dollar dominance and position as the world’s reserve currency are rapidly coming to an end. Threats of sanctions and belligerent pronouncements against Russia are only quickening the inevitable collapse of the US Dollar.
A group of Lower House MPs are urging Russian oil and gas producers and traders to stop using the US dollar. They say this means sharing profits with the USA, and making Russia vulnerable to western sanctions.
Degtyaryov also said that Russia already had a bilateral agreement with China allowing payment in national currencies and this proved that such step was possible.