New payment currency may appear in Russia

A new payment currency, bypassing the global one, may appear in Russia. The aim of the initiative is the emerging need to abandon the dollar system in a situation of severe financial sanctions.  Settlements in the new currency are proposed to be made with a number of friendly states.  Among them are the countries that are participants of the EAEU.

For each of them, the benefit may be in reducing dependence on reserve currencies, which at some point may become a tool for geopolitical confrontation.

Experts propose to provide the cost of a new currency at the expense of resources possessed by the participating countries. In particular, we are talking about gold and precious metals.

The conversion of a new unit of payment into national currencies is proposed to be carried out with the help of a clearing center.

The Russian authorities have already commented on the proposal. They do not exclude such a possibility, but so far they are considering this option for the countries of the Eurasian Union.

The Ministry of Economic Development believes that now Russia needs to benefit from settlements with its partners in national currencies. This possibility that arose in the situation of the introduction of a large number of sanctions has not been fully assessed, RBC reports.