In a historic announcement that could reshape the global financial landscape, Russian President Vladimir Putin revealed the launch of a new state-backed digital currency aimed at reducing global reliance on the US dollar.
Dubbed the “Sovereign Ruble,” this cryptocurrency is designed not only for domestic use but also as a global alternative for international trade particularly targeting countries seeking to circumvent American sanctions.
During a televised address at the Kremlin, Putin emphasized the currency’s security, transparency, and resistance to foreign interference. “The Sovereign Ruble will empower nations to conduct trade free from geopolitical coercion,” he said.
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This move comes amid escalating tensions between Russia and the West, with many experts suggesting the new currency could accelerate the shift away from dollar dominance in global markets.
The Russian government plans to work closely with allies in Asia, Africa, and South America to integrate the Sovereign Ruble into cross-border payments and commodity trading.
Financial analysts warn that this could trigger significant volatility in currency markets, but some see it as an inevitable evolution in the multipolar economic order.
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