Russia Holds “De-Dollarization Meeting”: China, Iran Willing To Drop USD From Bilateral Trade

Wednesday, May 14, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
05/14/2014

Russia Ministry of Finance is ready to greenlight a plan to radically increase the role of the Russian ruble in export operations while reducing the share of dollar-denominated transactions. Governmental sources believe that the Russian banking sector is “ready to handle the increased number of ruble-denominated transactions”. According to the Prime news agency, on April 24th the government organized a special meeting dedicated to finding a solution for getting rid of the US dollar in Russian export operations. Top level experts from the energy sector, banks and governmental agencies were summoned and a number of measures were proposed as a response for American sanctions against Russia.

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