LOS ANGELES (Reuters) - Russia is on the path to abstaining from the dollar in its financial and trade dealings because of strained relations with the United States and to avoid US sanctions, the French newspaper Les Echos said on Friday.
Russia has signed agreements to adopt national currencies with a number of countries that also have strained relations with the United States, such as Iran, Turkey and China, as well as Moscow's strengthening of its reserves of currencies of the countries of the `` BRICS '', where it was estimated in 2018 at $ 125 billion .
Moscow's policy of reducing its dependence on the dollar has stabilized the ruble and even strengthened by 7.6 percent against the dollar.
Russian Deputy Finance Minister Vladimir Kolichov said earlier that Moscow plans to reduce the dollar's share of its cash reserves by 2020, within the framework of the new financial structure.
Source: Les Echos