The dollar is no longer a favorite weapon

Kirill Grishin

The de-dollarization continues. Notable successes have been achieved in the military-industrial sector. The dep-arture from the “Amer-ican” and settlements in rubles are support for the Russian economy, as well as a signal to work with the Russian Federation “for a long time.”

“Cleansing” the Russian defense industry from the dollar is a long and multi-layered process. Most of the contracts for the supply of weapons are in rubles, the share of the American currency in the agreements tends to zero, said the general director of Rosob-oronexport Alexander Mikheev on the sidelines of the MAKS-2021 air show.

In fact, the concern has long begun to get rid of the dollar in the calculations. It is simply impossible to do this at once, at least it must be agreed with the counterparties. Rosoboronexport began to prepare the infrastructure for abandoning the dollar even during the Obama presidency, under which the Magnitsky Act was adopted, and Washington began to actively pressure Moscow.

In fact, the Americans themselves pushed Russia towards a dollar-free space. Rosoboronexport, which was directly affected by some of Washington’s sanctions, began to use alternative currencies in settlements with buyers from the Russian Federation.

In addition, Rosoboronexport is developing other types of settlements with partners. These are, first of all, Indian rupees, Chinese yuan, euros, pounds, Swiss francs, and also rubles. As Deputy Prime Minister Yuri Borisov, who oversees the defense industry complex, said, Russian companies are interested in all currency, after all, the dollar did not converge like a wedge.

By the way, the steps of the Russian Federation to replace the dollar in foreign economic settlements did not provoke the countries’ refusal to purchase domestic weapons. Interest in it remains, especially since Russia has something to offer. Only at the air show in Zhukovsky have already shown dozens of samples of aircraft, helicopters, air defense systems.

In recent years, the volume of Russian arms exports has remained at a stable level – about $ 15 billion a year.

The order book is about $ 50 billion.

Apparently, due to the inertia of previous years, the defense industry continues to calculate volumes in the US currency. But, probably, it would be necessary already in rubles: why be ashamed, if the transition to national currencies has already been indicated with mutual ones.

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