Russia Involved in De-Dollarization Talks With the Islamic World to Create Independent Financial System

Russia and the Islamic world are at the moment discussing how you can deepen the de-dollarization agenda to create a brand new monetary system. According to statements from Russian Deputy Prime Minister Alexey Overchuk, these subjects are inscribed in broader deglobalization talks, and the Russian authorities is invested in creating these points with Islamic international locations.

Russia Talks De-Dollarization With Islamic Nations

Russia is veering to the east so as to construct a much less polarized world and is at the moment concerned in talks about de-dollarization and the development of a brand new monetary system away from the dominance of the normal hegemonies. According to Russian Deputy Prime Minister Alexey Overchuk, the Russian Federation is at the moment in broad talks with the Islamic world that embody these topics and different associated subjects.

During the worldwide financial discussion board Russia-Islamic World: KazanForum, Overchuk stated:

Our relations with the international locations of the Islamic world can not however be influenced by the worldwide shifts which are going down and the worldwide tendencies. We are speaking about processes of de-dollarization and the creation of an impartial monetary system.

In this sense, Russia has been lately in search of the development of an alternate monetary system to allow them to transact with different international locations with out counting on SWIFT, the worldwide banking linking system, and the U.S. greenback, because the Group of the Seven (G7) intends to additional limit Russian entry to the monetary system.

Deglobalization on the Table

However, these talks usually are not restricted to the beforehand talked about subjects however are merely inscribed into extra complete topics that embody deglobalization and how you can cope with the altering tendencies in how investments are transferring within the international locations within the present geopolitical context.

Overchuk defined he was optimistic concerning the final result of those talks, remarking on the widespread issues that Russia and these international locations are going through. Overchuk declared:

This broader agenda and the way it impacts international locations and relationships permits us to see that relations between Russia and the Islamic states have a really massive and really optimistic future. The authorities is doing quite a bit to make sure additional improvement alongside these strains.

Russia has lately narrowed its relations with Iran, announcing the development of the Rasht-Astara railway, a route prompted as a rival to the Suez Canal that might join India, Iran, Russia, Azerbaijan, and different international locations a part of the Islamic world with 162 km of railway.

What do you concentrate on the de-dollarization and deglobalization talks that the Russian Federation is conducting with Islamic international locations? Tell us within the remark part under.