Putin Criticizes Dollar Dominance, Predicts Shift Toward Alternative Settlement Methods

By A Staff Reporter

Moscow: Russian President Vladimir Putin has strongly criticized the dominance of the U.S. dollar as the world's reserve currency, accusing the United States of exploiting it for economic and political gain. Speaking at a public event, he discussed global shifts in economic dynamics and the decline of the dollar's influence.

"The use of the dollar as a world currency gives the US a lot of money... Thanks to the dollar, the US continues to exploit other economies for their benefit," Putin remarked. He noted that while the U.S. once enjoyed significant economic dominance, its share in the global economy is steadily decreasing.

He accused the U.S. of undermining the dollar's foundational role through its own actions. "Their opponents did a lot to undermine the fundamental basis of the dollar as their international reserve currency... They used the dollar as an instrument of political or even military fight to inflict damage on other countries," Putin said.

Pointing to alternatives like Bitcoin and other electronic settlement methods, he added, "No one can ban the use of these technologies. The use of these instruments will increase." He emphasized that these processes are unavoidable as countries, including U.S. allies, reduce their reserves in dollars and euros.

"The reduction was around 13% over the last decade," Putin stated, emphasizing the ongoing global pivot away from traditional currencies. He concluded by urging a rethink of international policies in light of these changes.