ZCZC
BCN-06
RUSSIA-US-CURRENCY-LAVROV
Abuse of US dollar status will adversely affect this currency, Lavrov says
MOSCOW, April 20, 2019 (BSS/TASS) – The unreliability of the American
currency is evident in the conditions that have emerged on world markets as a
result of US actions, said Russian Foreign Minister Sergey Lavrov on Friday
at the meeting with members of the International Council on Cooperation and
Investments.
According to him, stability is important for business. “We are trying to
pursue a constructive unifying foreign policy course, which is primarily
aimed at providing the most favorable conditions for cooperation with foreign
partners on a mutually beneficial basis,” Lavrov said. “However, unilateral
sanctions, which bypass the UN Security Council under a false pretext, hinder
the process,” he said.
As the minister noted, sanctions are increasingly being used under the
pretext of “punishing the wrong political behavior of one country or another”
and as an “unfair competition method,” which leads to trade wars and
extraterritorial application of national legislation. “We see here the direct
abuse of the status of the US dollar, which in the long run will negatively
affect this currency. Everyone understands its insecurity, at least in the
conditions that are now formed on world markets as a result of the US
position,” Lavrov stressed.
“Losses are estimated in hundreds of billions of dollars, in particular,
taking into account the losses suffered by companies and banks in France and
Germany for cooperating with Iran, without violating either international
rules [of trade] or their own legislation, but violating US law,” Lavrov
said. “The protection pay-out that Americans have made others pay for
violating their laws are estimated at many billions. It is not just numbers.
The main thing is that trust is undermined,” he added.
BSS/TASS/HR/1457