RT.com
05 Aug 2022, 00:43 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 Tennis Times 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 Tennis Times.
More Information(Photo credit: Lon Horwedel-Imagn Images) The Detroit Pistons saw their longest winning streak in 17 years end on Friday night. They...
(Photo credit: Geoff Burke-Imagn Images) The St. Louis Blues are finally seeing a payoff for their progress made since Jim Montgomery...
(Photo credit: Winslow Townson-Imagn Images) Donovan Mitchell scored 41 points, including 26 in the second half, as the visiting...
(250301) -- ACAPULCO, March 1, 2025 (Xinhua) -- Nakashima Brandon of the United States hits a return during the singles semifinal match...
(Photo credit: Kevin Jairaj-Imagn Images) The Washington Wizards and Charlotte Hornets meet Saturday bearing the load of disappointing...
New Delhi [India], March 1 (ANI): Elevating the spirit of sports in the national capital, Indian sport shooter Deepak Kumar and TV...
DUBLIN, Ireland: Dublin has unveiled a new 5.5 million euro cycle track along the south quays, enhancing safety and accessibility for...
DUBAI, UAE - Fuelre4m has announced a new partnership with one of the UAE's largest yacht operators aimed at improving fuel efficiency...
CAIRO — Observant Muslims the world over will soon be united in a ritual of daily fasting from dawn to sunset as the Islamic holy...
BEIJING, March 1 (Xinhua) -- A selection of the best press photos from Xinhua. A drone photo taken on Feb. 27, 2025 shows the construction...
BEIJING, March 1 (Xinhua) -- In a significant move to open its telecommunication sector further, China has approved 13 foreign-invested...
(Photo credit: Jeff Romance / USA TODAY NETWORK via Imagn Images) Jake Knapp followed his opening-round 59 with a far more modest,...