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Putin questions need for dollar forex reserves, touts bitcoin -- and omits gold
But then why build up an asset if you're trying to acquire it?
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By Gleb Bryanski
Reuters
Wednesday, December 4, 2024
MOSCOW -- Russian President Vladimir Putin today questioned the need to hold state reserves in foreign currencies since they could easily be confiscated for political reasons, saying that domestic investment of such reserves was more attractive.
... Dispatch continues below ...
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Tuesday, December 3, 2024
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... For the remainder of the announcement:
Western countries froze about $300 billion of Russian reserves, accumulated from windfall energy revenues, at the start of the Ukraine war in 2022. Discussions are ongoing among G7 countries on how these funds could be used to support Ukraine.
"For example, bitcoin -- who can prohibit it? No one," Putin said.
He added that development of new payment technologies was inevitable, due to their lower costs and reliability.
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