RT.com
05 Aug 2022, 05:13 GMT+10
The Central Bank suggests firms should dump their dollars and euros in favor of ?friendly? denominations
Russia's central bank has called on manufacturers and non-financial services providers to convert their dollar and euro holdings to "friendly" currencies such as the Chinese yuan.
The proposal was put forward in a document for public discussion released by the regulator on Thursday, dedicated to developing key areas of the financial market under sanctions.
"The blocking of Russian assets by unfriendly countries, as well as operational restrictions on settlements in the world's major reserve currencies, create risks for citizens and businesses when using the US dollar and the euro," the Central Bank said.
Additional measures will be taken to reduce banking operations in these currencies, the regulator added.
In May, Finance Minister Anton Siluanov called the dollar and the euro "toxic currencies" for Russia, as their use was restricted in the country amid unprecedented Western sanctions. Instead, Moscow has chosen to switch to trade in rubles and the currencies of so-called "friendly" nations, which didn't join the American, European and British sanctions against the country.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of International Travel News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Travel News.
More InformationDUBLIN, Ireland - More than fifteen million passengers have transited through Dublin Airport so far this year. The figure is ...
WARSAW, Poland: Julie, who preferred not to give her full name, booked a group of trips to Warsaw last year, ...
LONDON, England: British Airways has halted ticket sales for short-haul flights that depart before the middle of August from London's ...
Sami Whitcomb scored 15 points and Sabrina Ionescu added 13, all after halftime, as the visiting New York Liberty shrugged ...
Vienna, Austria - Vienna, a city known for its Christmas markets and its New Year concert, is cutting back on ...
New Delhi [India], August 10 (ANI): Minister of State for External Affairs Meenakashi Lekhi will pay an official visit to ...
DUBLIN, Ireland: Following a month of record-breaking heat, a high fire risk warning has been issued by the Department of ...
ZAGREB, Croatia: Authorities have said that a weekend bus crash near Varazdin in Croatia killed 12 passengers and injured 32.The ...
DUBLIN, Ireland - More than fifteen million passengers have transited through Dublin Airport so far this year. The figure is ...
WARSAW, Poland: Julie, who preferred not to give her full name, booked a group of trips to Warsaw last year, ...
DEATH VALLEY NATIONAL PARK, California: Record rainfall on August 5 caused floods at Death Valley National Park that closed all ...
LONDON, England: British Airways has halted ticket sales for short-haul flights that depart before the middle of August from London's ...