The Ministry of Finance announced the goal of making Russia the first “Europeanized” country :: Economy :: TIme

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Although “the dollar is convenient to use,” the goal is to replace the American currency with the euro, said Dmitry Timofeev, head of the Ministry of Finance’s external restrictions department.

Photo: Andrey Lyubimov / TIme

Russia has a market economy, and therefore the authorities cannot simply order to stop using dollars, but welcome the stimulation of movement in this direction. This was stated by Dmitry Timofeev, Director of the Department for Control over External Restrictions of the Ministry of Finance, speaking at a hearing in the State Duma.

“Perhaps our first goal is to make Russia a Europeanized country, so that the dollar is replaced by the euro. And I think we have every reason for this, ”Timofeev said (quoted by Interfax).

The head of the department of the Ministry of Finance noted that “it is convenient to use the dollar,” and therefore it has not yet been possible to leave it, although the share of the American currency in payments for exports has already significantly decreased – from 80% in 2013 to less than 50% by the end of 2020. To make the process more active, Timofeev noted, “incentives are needed,” which can be both positive and negative.

“In principle, directive methods are possible for some state-owned companies. In general, a lot of complex work is needed to move the entire economy further away from the dollar, which will allow us to avoid sanctions and make the world more democratic, ”added Timofeev.

Later, the press service of the Ministry of Finance pointed out that in international settlements, the transition from the dollar to rubles and other currencies of countries – trading partners occurs “naturally”.

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