PressTV... Russian Foreign Minister Sergei Lavrov says Russia has been exploring for some time using national currencies to settle bilateral trade deals with Turkey and other countries. Lavrov, who was speaking at a news conference with his Turkish counterpart in Ankara, said on Tuesday that the US dollar’s role as a global trade currency was in decline. “I’m confident that the grave abuse of the role of the US dollar as a global reserve currency will result over time in the weakening and demise of its role.”
The top Russian diplomat went on to say that Moscow favored bilateral trade with all countries in their national currencies, rather than the dollar.
“The use of national currencies for mutual trade has for several years been one of the tasks that the presidents of Russia and Turkey had set,” said Lavrov.
“Identical processes have been happening in our relations with Iran. Not only with Turkey and Iran, we’re also arranging and already implementing payments in national currencies with the People’s Republic of China,” he added
The remarks come as the Kremlin has already backed a Turkish plan to dump the dollar and trade in national currencies. Turkey's Foreign Minister Mevlut Cavusoglu (R) and his Russian counterpart Sergei Lavrov attend a joint press conference following their meeting in Ankara on August 14, 2018. (Photo by AFP)
On Saturday, Turkish President Tayyip Erdogan announced that Turkey was preparing to conduct trade through national currencies with China, Russia and Ukraine.
Asked about Erdogan's proposal, Kremlin spokesman Dmitry Peskov said on Monday that Russia had been pushing for such an arrangement with all countries. He said the issue had been raised on more than one occasion during bilateral talks.
Erdogan, who has described the Turkish lira's fall as the consequence of a plot, also said that recent US actions were a stab in the back against Ankara. PressTV-Erdogan: Buying dollar means 'surrender to devil' President Recep Tayyip Erdogan urged Turkish people on Tuesday not to "divert our money to foreign currency."
US President Donald Trump has gone on a sanctioning frenzy in recent months, targeting Iran, Turkey, and Russia, and creating what experts have dubbed an “axis of the sanctioned.”
Trump has recently ordered to double tariffs on Turkish aluminum and steel imports to 20 and 50 percent, respectively, saying, "Our relations with Turkey are not good at this time!”
I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time! — Donald J. Trump (@realDonaldTrump) August 10, 2018
The announcement on Friday came in protest over the detention of American Pastor Andrew Brunson, who was arrested on terrorism charges after the attempted coup against Erdogan in 2016. PressTV-Turkey moves to calm market, opens probe amid lira fall Turkey launches measures to ensure financial stability and opens a probe into individuals suspected of being involved in actions that threaten economic security.
The dispute between Washington and Ankara that reached new intensity over the detention of the pastor in Turkey has hammered the lira and also raised questions over the future partnership between the two NATO allies.
Erdogan advised Turks to show solidarity by converting any stashed-away gold or foreign currency to Turkish lira in a bid to wage a "war of independence" against the US.
The president has already warned that Turkey would “seek new friends” after the US “upset and annoyed” Ankara with sanctions.
Writing in the New York Times, Erdogan said, "Washington must give up the misguided notion that our relationship can be asymmetrical and come to terms with the fact that Turkey has alternatives.”
Poster Comment:
Multi Polar World Has All The Cards... Russia and China Are Sitting With All the Cards in the Sanctions War and No Clue How to Use Them: Not true ..... EXPOSED everything, long ago in great detail. The dump is happening at a much faster pace than you can imagine and a LEAK... "Embargo From The East on The West Will Occur In Due Course Not Seen Since 1949", the like of which the West has never witnessed after which the entire West would be devastated the East will still survive on but the West will be left with no option but to start wars leading to World War Three, this is why the massive Military NATO build up has been happening since the last few years when ..... warned, in fact it's been happening since the end of World War Two, nothing ever ends it continues on...
SAY IT AS IT IS Since 2011... As the US Dollar nears a collapse UK and some European nations and puppet nations across the world will be dragged down with it causing a depression worse than 1929. This is why Pakistan, Turkey, Iran and others alike are rapidly pulling away from the US Dollar. As a result of the failures of EVIL US foreign policies against Humanity more than likely the US or it's proxies will trigger some war leading to WW3 as usual either through 1. Ukraine Georgia against Russia, 2. Israhell US against Hezbollah and Iran in the Greater Middle Eastern War as the two still remain in the main "Interlock Flash Point" since 2011 and before...