EU and Russia Reportedly Agree to Ditch Greenback in Bilateral Transactions | WHAT REALLY HAPPENED

EU and Russia Reportedly Agree to Ditch Greenback in Bilateral Transactions

The decision comes a few days after Russian President Vladimir Putin slammed the US dollar as a tool of pressure while speaking at the St. Petersburg International Economic Forum (SPIEF).

Russian Finance Minister Anton Siluanov and Maros Sefcovic, vice-president of the European Commission for the Energy Union, have agreed to set up a working group that will deal with a transition to using the rouble and euro in bilateral payments, Russian media outlets reported, citing Siluanov’s spokesman, Andrei Lavrov.

Both sides have reportedly emphasised that the use of national currencies will be mutually beneficial, as it reduces certain risks for entrepreneurs in Russia and the EU.

During their meeting, Siluanov and Sefcovic are said to have discussed the issue of the participation of European businesses in the implementation of national projects in Russia, with the finance minister saying that Moscow is interested in cooperation and sees no obstacles to the involvement of foreign companies.

Webmaster's Commentary: 

This is huge, on the part of the EU.

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