Western sanctions erode trust in dollar, euro: Kremlin

The Western sanctions policy is accelerating the process of erosion of the world reserve currency, with an increasing number of countries considering options for mutual settlements in national currencies, Kremlin spokesman Dmitry Peskov said on Sunday.

"This is the erosion of confidence in the dollar and the euro, which have always been some kind of a spine for all international settlements. More and more countries, having doubts about the reliability of dollars and euros are inclined to develop options for mutual settlements in national currencies. This process cannot be stopped, it will go on increasing," Peskov told Rossiya 1 broadcaster.

Peskov added that in the long term the world economy will come to a new system of monetary management, different from the Bretton Woods one. (ANI/Sputnik)

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor