Moscow, February 14 Trade with the US in US dollars does not contradict Russia's core policy of using national currencies in foreign transactions, the Kremlin said on Saturday.
Russia switched to using national currencies in foreign trade after its US and Euro accounts were frozen by the West following the outbreak of the 2022 conflict with Ukraine, and has been pushing for a global de-dollarization trend.
In an interview to the state-run TASS news agency, Kremlin spokesperson Dmitry Peskov pointed out that the dollar is the national currency of the United States, so its use in transactions with Washington will not conflict with the principle of transitioning to national currencies.
"In general, yes," the Kremlin spokesperson agreed with the thesis about the dollar as the national currency in Russian-American trade and that its use will not fundamentally affect Russia's interactions with its current partners.
Amid reports of bilateral negotiations to expand economic cooperation between Moscow and Washington, Peskov recalled that Russia did not abandon the use of the dollar—it was the US that imposed the relevant restrictions.
Peskov noted that if the dollar becomes attractive, its use will return—but only alongside other currencies. However, the American currency will have to face serious competition from alternative and national currencies that are already in active use, he said.
Since the outbreak of armed conflict with Ukraine in 2022, Moscow has been demanding payment for its hydrocarbons in roubles, as its US and Euro accounts were frozen in the West.
Russia is mostly trading with India and China in rupees and yuan, noted officials.
