Arab Press

بالشعب و للشعب
Thursday, Nov 13, 2025

Dollar's Share in Global Trade Will Drop Once People Begin to Doubt Its Stability, Kremlin Says

Dollar's Share in Global Trade Will Drop Once People Begin to Doubt Its Stability, Kremlin Says

In the face of sweeping new sanctions targeting its sovereign debt, and threats of being cut off from SWIFT, Visa and other financial instruments, Moscow has recently gone on the diplomatic offensive, encouraging trade partners to continue to move away from the use of the dollar in trade, and to create alternative payment systems.

The share of the dollar in Russia's foreign trade operations has been declining from year to year, and the same thing will happen in countries the world over once people begin to doubt the US currency's stability, presidential spokesman Dmitry Peskov has said.

Speaking to Russian television on Thursday about recent actions and threats facing Russia in the financial and economic arena, including the possible unplugging of Moscow from SWIFT, Peskov suggested that "if SWIFT as a service shows its lack of reliability, we live in a world that's developed to such a degree that analogues, bypasses or substitutes for this system will be found very quickly."

Peskov emphasised that the Belgium-based global interbank service was one of only several financial sector services, albeit the dominant one, and if access is cut off, countries will want to use alternatives.

As for dollar trade, Peskov said he was confident that Russia's recent move away from the greenback will be emulated by other countries in time, once they begin to "doubt the currency's stability and the stability of the country issuing it".

"It's time for everyone, including the Americans, to understand that Russia is a self-sufficient country - a strong, self-sufficient state. It's impossible to restrict Russia in any area. Yes, one can try to restrain it, one can grasp one's allies by the throat and force them not to buy Russian weapons, but this will not force Russia to change its policy," the spokesman stressed.

Commenting on President Joe Biden's recent State of the Union address to Congress, in which he suggested that America was "ready for take-off" and "leading the world again," Peskov suggested that the comments sounded like "some atavisms of the previous decade - atavisms of a unipolar world." The Kremlin spokesman proposed that the Biden administration has presented the US in relation to other countries "in the role of Moses leading the Jews through the desert," but stressed that "first of all, we are not in the desert," and that secondly, "the world is much richer than the United States."

Peskov noted that the world today is multipolar, and that Russia's President Vladimir Putin "is no longer a supporter of walking in someone's fairway, but of equal cooperation" between nations.

At the same time, the spokesman emphasised the need to come up with a sober assessment of the situation, and to agree that the US is still a superpower, and a country that accounts for a quarter of the world economy. He noted, however, that "various associations are being formed in the world which are already capable of equalling or surpassing" the US's economic heft, with China alone on the verge of catching up with and overtaking America. "Therefore, it's hardly proper for the US to claim the role of Moses."

As for Washington's recent policy of proposing negotiations and cooperation at the same time that it slaps new sanctions on Russia and accuses Moscow of a host of malign acts, Peskov suggested that US hostility is making it difficult for Putin to make a decision to agree to a summit meeting with his US counterpart.

"We do not understand the situation: we see that in words there are proposals to discuss cooperation in those areas of mutual interest... But at the same time - or the next day after these words - come actions on the 'containment' of Russia or the manifestation of outright hostile steps. This complicates the analysis of the situation from the Russian side for the president to make a decision about this summit," he explained.

Presidents Putin and Biden spoke by telephone on 13 April to discuss relations and the prospects of a face-to-face summit in a third country in the coming months. A day after the call, the White House introduced sweeping new sanctions against Russian individuals, the financial and banking sector, and Russian sovereign debt, and kicked out several diplomats. A week after that, Czech authorities accused Russian military intelligence of involvement in a series of blasts at a Czech arms depot, leading to a new round of diplomatic expulsions between Russia and NATO countries.

Comments

Oh ya 5 year ago
The ISA has gone full retard. Treating to use the dollar and swift system as a weapon will truly end in tears. And if the USD loses ots status as the world reserve currency then the folks in the US will find out what reality is really like

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Cristiano Ronaldo Embraces Saudi Arabia’s 2034 World Cup Vision with Key Role
Saudi Arabia’s Execution Campaign Escalates as Crown Prince Readies U.S. Visit
Trump Unveils Middle East Reset: Syria Re-engaged, Saudi Ties Amplified
Saudi Arabia to Build Future Cities Designed with Tourists in Mind, Says Tourism Minister
Saudi Arabia Advances Regulated Stablecoin Plans with Global Crypto Exchange Support
Saudi Arabia Maintains Palestinian State Condition Ahead of Possible Israel Ties
Chinese Steel Exports Surge 41% to Saudi Arabia as Mills Pivot Amid Global Trade Curbs
Saudi Arabia’s Biban Forum 2025 Secures Over US$10 Billion in Deals Amid Global SME Drive
Saudi Arabia Sets Pre-Conditions for Israel Normalisation Ahead of Trump Visit
MrBeast’s ‘Beast Land’ Arrives in Riyadh as Part of Riyadh Season 2025
Cristiano Ronaldo Asserts Saudi Pro League Outperforms Ligue 1 Amid Scoring Feats
AI Researchers Claim Human-Level General Intelligence Is Already Here
Saudi Arabia Pauses Major Stretch of ‘The Line’ Megacity Amid Budget Re-Prioritisation
Saudi Arabia Launches Instant e-Visa Platform for Over 60 Countries
Dick Cheney, Former U.S. Vice President, Dies at 84
Saudi Crown Prince to Visit Trump at White House on November Eighteenth
Trump Predicts Saudi Arabia Will Normalise with Israel Ahead of 18 November Riyadh Visit
Entrepreneurial Momentum in Saudi Arabia Shines at Riyadh Forward 2025 Summit
Saudi Arabia to Host First-Ever International WrestleMania in 2027
Saudi Arabia to Host New ATP Masters Tournament from 2028
Trump Doubts Saudi Demand for Palestinian State Before Israel Normalisation
Viral ‘Sky Stadium’ for Saudi Arabia’s 2034 World Cup Debunked as AI-Generated
Deal Between Saudi Arabia and Israel ‘Virtually Impossible’ This Year, Kingdom Insider Says
Saudi Crown Prince to Visit Washington While Israel Recognition Remains Off-Table
Saudi Arabia Leverages Ultra-Low Power Costs to Drive AI Infrastructure Ambitions
Saudi Arabia Poised to Channel Billions into Syria’s Reconstruction as U.S. Sanctions Linger
Smotrich’s ‘Camels’ Remark Tests Saudi–Israel Normalisation Efforts
Saudi Arabia and Qatar Gain Structural Edge in Asian World Cup Qualification
Israeli Energy Minister Delays $35 Billion Gas Export Agreement with Egypt
Fincantieri and Saudi Arabia Agree to Build Advanced Maritime Ecosystem in Kingdom
Saudi Arabia’s HUMAIN Accelerates AI Ambitions Through Major Partnerships and Infrastructure Push
IOC and Saudi Arabia End Ambitious 12-Year Esports Games Partnership
CSL Seqirus Signs Saudi Arabia Pact to Provide Cell-Based Flu Vaccines and Build Local Production
Qualcomm and Saudi Arabia’s HUMAIN Team Up to Deploy 200 MW AI Infrastructure
Saudi Arabia’s Economy Expands Five Percent in Third Quarter Amid Oil Output Surge
China’s Vice President Han Zheng Meets Saudi Crown Prince as Trade Concerns Loom
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
Israel and Hamas Agree to First Phase of Trump-Brokered Gaza Truce, Hostages to Be Freed
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
×