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Who is the Russian Vladimir Putin is relying on to save Russia from bankruptcy?

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On May 9, Victory Day, the most anticipated act in Russia was the signing by Vladimir Putin in the Red Square of a decree aimed at changing the course of the economic war with the West, linking Russia to China, on which occasion Maxim Oreshkin was promoted. for years, on the vertical of power, writes Mediafax.

Oreshkin is not on the list of 1,000 important Russians and Belarusians subject to restrictive measures imposed by the EU. He was targeted by London as chairman of Russia’s leading public broadcaster Pervii Kanal.

Maxim Oreshkin is an economist educated in Russia’s elite schools, has worked in various investment banks (from the Russian Rosbank to the Moscow branch of the French Crédit Agricole and at the Vtb State Institute), was Minister of Development at 34 years old and adviser to the president since 2020.

Oreshkin became the creator of the Russian tactical change. He was asked to reorient the production and financial system, learn to trade without Western currencies and push the country into the arms of China.

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Since May 9, according to the Russian president’s decree, Oreshkin has been the “head of the interdepartmental working group” set up to respond to restrictive measures and rewrite trade rules with “unfriendly” countries, especially the EU, and “friends.” To achieve this, he and his team will need to create new structures.

The list of personalities included in the decree includes: Elvira Nabiullina, Governor of the Russian Bank, Anton Siluanov, Minister of Finance, and Maxim Resetnikov, Minister of Development.

Russia, linked to China

Putin’s May 9 ordinance speaks of “developing a plan for the formation of international payment infrastructure with the trading partners of friendly countries” and “determining the procedure for settling financial items in rubles or international currencies.” The decree also talks about “compensation mechanisms that need to be developed” always with the “friendly” countries, those that at the UN did not criticize the invasion of Ukraine: China and India.

“Over the next two years, China will be the main export destination and source of Russian imports,” said Alexander Gabuev of the Carnegie Institute for International Peace.

“This will allow China to establish the yuan as the regional currency of North Eurasia, even before it becomes fully convertible in the foreign exchange market,” Gabuev added. Thus, the results threaten to lead to what Gabuev calls “a Balkanization of the global currency system,” in which not even the supremacy of the euro and the dollar is beyond doubt.

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