Russia Drops the U.S. Dollar as Biden Regime Announces Rampant Spending and Inflation

Russian President Vladimir Putin is planning to remove all dollar assets from its Wealth Fund and reinvest them in more stable financial instruments.

Russian Finance Minister Anton Siluanov announced his nation will replace the dollar with euros, pounds, gold and yuan in lieu of the Biden regime’s plans for unprecedented spending.

The Russian National Wealth Fund (NWF) is used as a rainy day source of funds to prevent economic turmoil. The Russians apparently believe that the dollar won’t be worth the paper its printed on once real economic calamity hits.

“Like the central bank, we have decided to reduce investments of the NWF in dollar assets,” Finance Minister Anton Siluanov said at the St Petersburg International Economic Forum.

Analysts are noting that this could be the beginning of major nations rejecting the dollar, which could ultimately spell the end of U.S. dominance throughout the world.

“The rest of the world has also sharply reduced the dollar share of FX reserves over the past two decades but Russia has a special interest in doing so quickly and undermining global confidence in the dollar because it is a petro-state and a strategic rival of the United States,” Matt Gertken, a geopolitical strategist at BCA Research in Montreal, said in an email exchange. 

“However, it is unlikely that Russia will totally cleanse its system of all dollars since that would be a foolish financial decision,” he added.