Putin offered Japan to pay in roubles
Russian president Vladimir Putin, speaking at “Russia-Japan” business dialogue within the frames of SPIEF-2018 (St. Petersburg International Economic Forum), offered Japan to pay in rouble, which is “completely convertible currency”. Putin and Japan’s prime minister Shinzo Abe participated in a meeting of Russian and Japan business on the sidelines of SPIEF. “Obstacles that our American colleagues create when settling in dollars, in my opinion, is a great mistakes from their part, because they fail to solve current political issues and undermine trust to the American currency which in fact is the only global reserve currency,” Russian president noted. According to Putin, everyone starts thinking of how to get rid of the monopoly of American currency, and how to provide normal functioning of their financial institutions. In this aspect, Russian leader expressed confidence that the rouble today is “completely convertible currency”, TASS reports.
Russia’s reserve fund is run short. In addition, political and economic sanctions of the West weakened it. At the same forum, Putin stated that “the West should not cross the red line”. It is interesting, where does this red line starts? Anyway, Russia is still officially among the leading states with veto right. Speaking about “red line”, did Putin really want to say that if the West crossed the red line, it will violate international legal norms and laws?! As his offer to Japan was the move contradicting to the principles of global financial system… Although it was just a political statement because Russia cannot change current global financial system with its rouble. Even the European Union with its Euro currency could not do it. The thing is, the St. Petersburg forum is a platform to attract foreign investments to the Russian economy. Is not such thought a political principle of the third world countries?! Therefore, in order to get out of economic crisis, Russia wants to open to foreign global investors. No matter how big political mistake it is, but Putin has no other choice.