Putin pushes Russia to hurry up with it’s move away from the dollar: Russia should move to the national payment card this year

Greetings,

To extricate herself from dollar domination and market manipulation by the West, particularly America, Russia has started more bilateral trade agreements, they have commenced with the EurAsia free trade zone, They have started to engage in more nation to nation currency swap deals.

Russia is no fool. That nation has also converted a portion of it’s currency reserves to silver and gold. This is to blunt the effects of Western sanctions and market manipulation.

On top of these things. They have engaged in more trade with none Western nations. They have instituted a government precious metal buying spree.

This is time when the nations move away from America and push her economy to the breaking point. It’s here. Russia is now putting herself in a position to overcome any move by Western nations to sanction her financial institutions to bring them to ruin.

They are working quick and hard. Also let us not forget that this latest move will help cushion it against the dollar fallout & Western economic collapse.

Russia should move to the national payment card this year – Putin

Russia should switch to the national payment card by the end of 2015, said President Putin, adding that the country needs to change the situation where more than 90 percent of Russians use foreign payment cards, such as Visa or MasterCard.

READ MORE: BRICS/SCO summits in Russian city of Ufa LIVE UPDATES

“We need to launch our own ‘plastic’ [national payment cards] this year,” he said at the Q&A session with journalists on the final day of BRICS/SCO summits in Ufa,“[We] need to do it so that it [a payment card] will be available for our citizens. We need to develop it not only on the territory of Russian Federation, but also abroad.”

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At least 97 percent of clients in Russia have MasterCard and Visa, said Putin. “Is it a normal situation? No!” he added.

READ MORE: Domestic MasterCard: 5 Russian banks begin new National Payment System

According to Putin, Moscow “allowed its partners to do it, thinking that economy is beyond politics.”

“It turned out that it is not the case,” he said, adding that the economy “is used as an instrument of political struggle.”

That’s why Russia has to make decisions and that doesn’t mean Russia is going “to build a wall” around its borders, he said.

“We will use all instruments of cooperation with all countries – with the US, EU and Asian countries,“ he said, adding that Moscow will develop relations “first of all, with those who want to cooperate with us.”

“BRICS countries want this [cooperation], these are powerful countries with prospects of strategic development, these are future leaders of the world and of the global economy.”…more here

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