Each country of the Shanghai Cooperation Organization (SCO) should make its own decision whether to abandon the dollar, but there is enough evidence that this currency is unreliable in terms of possible abuse, Russian Foreign Minister Sergey Lavrov told reporters on Friday following a meeting of the Council of Ministers of Foreign Affairs of SCO member states.
"Each SCO country should decide for itself how comfortable it feels relying on the dollar, given the absolute unreliability of this currency in terms of the possibility of abuse. More than once the Americans have used it against a number of states, so I am sure that the SCO countries have their own analytical structures that will assess the situation, draw conclusions and take practical steps based on their own interests," he said in response to a question about the prospects of the SCO countries to abandon the dollar.
Lavrov emphasized that following the SCO Ministerial Council meeting, "a road map for the transition to the use of national currencies in mutual settlements has been agreed upon." "I think this speaks volumes about the direction the process is taking," the minister concluded.
The Shanghai Cooperation Organization (SCO) is a permanent regional international association established in Shanghai on June 15, 2001. The SCO members are Russia, India, Kazakhstan, Kyrgyzstan, China, Pakistan, Tajikistan and Uzbekistan. This year, Uzbekistan has taken over the presidency of the organization.
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Based on materials from TASS