ICFR

Possible de-dollarization in Russia

Presented by :

Rakhimova Mukhiba
Samudin Elina

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 Plan of presentation

De-dollarization: Russian analogue of

What drives it in the SWIFT
Russian case?

Plan of de-dollarization Diversification of the

currencies structure

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 De-dollarization: What drives it in the Russian case?

To reduce dependence on the

currency that President Trump
began to use as a political
weapon

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https://meduza.io/feature/2018/10/05/vse-govoryat-o-dedollarizatsii-rossiyskoy-ekonomiki-chto-eto-takoe-i-povliyaet-li-lichno-na-menya
 Plan of de-dollarization

An accelerated To create Russian

transaction to Ex-Im To create Russian centralized
transactions with depository to place clearing of
foreign countries in Eurobonds precious metals
other currencies

1 2 3 4 5

To transfer of legal To start licensing all

addresses of Russia’s participants of stock
largest holdings to
Russian jurisdiction
market on the basis of
common rules

https://chelorg.com/2018/10/02/kostin-expressed-support-for-putins-proposals-on-the-de-dollarization-of-the-economy/
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 Russian Analogue of SWIFT

SPFS - System for Transfer Strategic Russian firms connected 90%

of Financial Messages to the SPFS:
Russia is ready to be disconnected
December 2014 Launched from such payment systems like
by CB MasterCard and VISA.

Possible linking SPFS with

First transaction other countries:
with a non-bank December 2017
enterprise

Currently 416 Planned transboundary

participates operations:

Anatoly Aksakov, head of the Russian

parliamentary committee on financial
markets
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 Diversification of the currencies structure

Ranking of US treasury
holders by country
August, 2018
1 China $ 1 165 billion
2 Japan $ 1 030 billion
3 Brazil $ 318 billion

54 Russia $ 14,1 billion

Russian investments in the US state bonds, in billion $ .

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https://www.pravda.ru/news/economics/finance/capital/17-10-2018/1396216-russia-0/
 Gold instead of the dollars

2017 - added a record 224 tons Russian gold reserves are the fifth largest in the
2018, through September - added over 198 tons world.

https://smaulgld.com/russia-added-1-2-million-ounces-of-gold-to-reserves-in-september/ 7
 De-dollarization beneficial to
these countries’ trade relations

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 The Bank of Russia Chairman comments on de-dollarization

https://chelorg.com/2018/10/11/nabiullina-urged-to-consider-the-economic-logic-by-de-dollarization/ 9
 The currency structure of the external debt of the Russian Federation

The share of the dollar in the structure of the total external debt of the Russian Federation
fell from 68% on 01/01/2016 to 53% on 04/01/2018

http://новости-россии.ru-an.info/новости/дедолларизация-в-цифрах-центральный-банк-россии/
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 Currency structure of payments for import and export of goods and services

The share of the dollar in payments for imports of The share of the dollar in revenues from exports of
goods and services decreased from 44% in the first goods and services decreased from 81% in the first
quarter. 2015 to 36% in the first quarter. 2018 quarter. 2013 to 71% in the first quarter. 2018

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http://новости-россии.ru-an.info/новости/дедолларизация-в-цифрах-центральный-банк-россии/
 References:

https://tradernet.ru/feed/postId/1098216
https://smaulgld.com/russian-gold-reserves-june-2018/
https://sputniknews.com/business/201811011069430456-russia-swift-analogue-progress/
https://www.pravda.ru/news/economics/rules/04-10-2018/1395030-economics-0
https://astutenews.com/2018/11/06/russias-alternative-to-swift-already-has-market-majority-in-russia/
https://fishki.net/anti/2647810-rossijskij-analog-swift-zapuwen.html
http://uawire.org/kremlin-russia-is-ready-for-swift-disconnection
https://ria.ru/economy/20181018/1530908016.html
https://chelorg.com/2018/10/11/nabiullina-urged-to-consider-the-economic-logic-by-de-dollarization/

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