“It is clear that even if this is a long-term project, we will arrive at some new system that is different from Bretton Woods. Western sanctions on Russia have accelerated diminished confidence in the US dollar and euro,” Peskov said.
Russia, on the order of President Vladimir Putin implemented payments in ruble for its gas exports to the European Union effective in March 23. Under the scheme, Russia agrees to accept payments for gas from European partners in euros through Gazprombank, which will convert them into rubles. (rr)