Russia Prepares to Transfer All Currency Liquidity From Dollar to Euro

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MOSCOW (Sputnik) – The transition from dollar to ruble and national currencies in international settlements happens naturally, incentives are created to facilitate the process, but no bans are introduced, the Russian Finance Ministry said on Monday.

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“The transition from dollar to ruble and national currencies of our trade partners in international settlements happens naturally. The sanctions-associated difficulties in settlements result in a gradual transition to other currencies anyway, which is confirmed by statistics over the past five years. The Russian Finance Ministry supports this transition, including through creating relevant regulatory incentives. Obviously, these incentives cannot include any bans, only economic methods,”  the Russian Finance Ministry said in a statement.

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