Putin criticizes US sanctions, reveals that 95% of Russian trade is now dollar-free

Russian President Vladimir Putin has criticized US sanctions, noting that they are distancing global economies from the US dollar and leading to a gradual decline in its use for international trade and reserves. He noted that Russia now conducts 95% of its foreign trade in national currencies due to these sanctions. Putin highlighted the growing economic influence of the BRICS nations, which surpass the G7 in global GDP share and contribute significantly to global economic growth.

Putin criticizes US dollar sanctions, highlights BRICS economic dominance

Russian President Vladimir Putin has criticized US sanctions that limit Russia's access to the US dollar, noting that these actions are causing a global shift away from the American currency. During a meeting with BRICS media on Friday, Putin noted:

All countries in the world are now thinking about whether it is worth using the dollar if the United States limits the use of the dollar as a universal international payment unit for political reasons.

"The volume of dollar use is slowly but gradually decreasing, in payments and in reserves," Putin described, adding that even traditional US allies are reducing their dollar reserves as a result. Putin also singled out China as another country hit by sanctions, noting: "And what is happening with China, one sanction after another. And this is not related to politics, it is related to the growth of the Chinese economy and the attempt to impede this growth by using various sanctions, politically motivated ones."