16:09 - 21.10.2024

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October 21, Fineko/abc.az. Putin will strike the dollar this week, ABC.AZ reports, referring to The Economist.

The fact is that the BRICS summit will be held from October 22 to 24. And on it, according to the publication, the Russian leader will announce creation of a new payment system that will end the dominance of the US dollar.

"Mr. Putin hopes to capitalize on the dollar's discontent at the BRICS summit," The Economist writes.

At that, despite the reduction in the share of reserves of world central banks in the American currency (since 2000, world national reserves in dollars have decreased from about 70 to 58%), "the network effects of the dollar put American banks at the center of global payment systems," the publication emphasizes.