Russia Finance Minister: We Are Ready To Ditch The Dollar In Favor Of The Euro
May 24, 2018

Russia's Finance Minister Anton Siluanov said at the St. Petersburg International Economic Forum that settlements in US currency could be dropped by Russia in favor of the euro. That said, Russia would only engage in such an unprecedented transition under one condition:  if the EU takes a stand against the latest US sanctions on Moscow.

"As we see, restrictions imposed by the American partners are of an extraterritorial nature. The possibility of switching from the US dollar to the euro in settlements depends on Europe’s stance toward Washington’s position,” said Siluanov, who is also Russia’s first deputy prime minister.