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Russian Foreign Minister says that the use of national currencies cannot be stopped in the SCO

Mr. Sergey Lavrov, the Russian Foreign Minister, confirms that the step of introducing national currencies in transactions between member countries of the Shanghai Cooperation Organization cannot be stopped, and that member countries of the organization must respect this step and accept the transition to the use of national currencies, as it serves the economic and political interests of the member countries of the organization.

Mr. Sergey Lavrov, the Russian Foreign Minister, is committed to supporting ideas and initiatives that contribute to enhancing international cooperation, strengthening relations between countries, and improving economic and political conditions in the region as a whole. Therefore, Lavrov wants to support the introduction of national currencies in transactions between member countries of the Shanghai Cooperation Organization.

It is expected that the step of accepting mutual bank checks between member countries of the organization will work to achieve satisfactory solutions for the organization’s transactions, which serves Russia’s interests in particular. The Russians see abandoning the US dollar in their international dealings as a necessary and crucial step.

Central banks of countries such as India, China and Russia fund their external transactions with yuan, ruble, and other currencies, and these countries aim to make trade between them the use of national currencies and get rid of the US dollar. They are also trying to make efforts to convince more countries to use national currencies instead of the dollar in exchanging goods and services.

The shift to the use of national currencies pushes countries to look for a way of financial exchange, including the use of bank checks, and this option will have positive effects on the member states of the organization as it will lead to strengthening trade relations among them and allow countries to control some aspects of the exchange of goods and services. In the end, the US dollar will play a lesser role in the exchange of goods in the region, and this will lead to the eventual end of the use of the US dollar in exchange deals between these countries.

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