Squeezed by ever-expanding U.S. sanctions, Vladimir Putin says he wants to dump the dollar. His central bank has been doing just the opposite.
In comments to lawmakers on Tuesday after his inauguration for a record fourth term as president, Putin said a "break" from the U.S. currency is necessary to bolster Russia's "economic sovereignty," especially in light of recent penalties and what he called politically motivated restrictions on trade.
Putin doesn't have much to show for years of decrying the "dollar monopoly" that allows the U.S. to act like a "parasite" on the global economy. Now he has to contend with a deepening standoff with the U.S. after the latest round of sanctions in April ripped through Russia's currency and stocks and cut off a major company's access to Western financial markets. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2018-...ts-to-break-...
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