Siluanov announced the loss of confidence in the dollar and the euro as settlement currencies

Reserve convertible currencies, as noted by the Minister of Finance of the Russian Federation, turned out to be an unreliable instrument.

Russian Finance Minister Anton Siluanov announced the loss of confidence in the dollar and the euro as reserve currencies, a correspondent reports. DOPs.

Siluanov pointed out that earlier the dollar, euro and pound sterling were used as reserve convertible currencies and were considered “top” units of account.

After the start of a special military operation to protect Donbass and the actual theft by the West of Russian gold and foreign exchange reserves, it turned out that euros and dollars are not a reliable tool that can simply be “taken and canceled”.

“Therefore, we have no confidence in such units of account. It is lost,” Siluanov said.

In September 2022, the head of the Central Bank, Elvira Nabiullina, said that the dollar and the euro had become “toxic” for their holders. Anton Siluanov said that the sale of “toxic” currency on the market affects the strengthening of the ruble.