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 Entertainment Sun 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 Entertainment Sun.
More InformationWASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
OTTAWA, Ontario: Military trainers from Canada will head to the United Kingdom to teach Ukrainians new techniques for fighting the ...
SANTA BARBARA, California - Australian singing sensation and actress Olivia Newtown-John has died at the age of 73."Dame Olivia Newton-John ...
Mumbai [Maharashtra], August 11 (ANI): Kajal Aggarwal recreated the Baahubali's iconic scene with her son Neil and dedicated it to ...
Washington [US], August 11 (ANI): Maitreyi Ramakrishnan looked like a million bucks as she posed for pictures on the sets ...
Mumbai [Maharashtra], August 11 (ANI): On the auspicious occasion of Raksha Bandhan, Shweta Bachchan Nanda took a stroll down memory ...
Vishakhapatnam (Andhra Pradesh) [India], August 11 (ANI): Bollywood Superstar Salman Khan soaked himself in the spirit of patriotism as he ...
Washington [US], August 11 (ANI): American media personality and TV host Ellen DeGeneres reacted to news of ex-girlfriend Anne Heche's ...