Putin says the US shoots itself in the foot by restricting the use of the dollar, and Middle Eastern countries are switching to the Chinese yuan:
"They saw off the branch they’re sitting on - I’ve been reiterating that - by limiting the use of the dollar based on momentary, situational considerations of political nature. They are harming themselves, and we might even add they shoot themselves in the foot.
We would use the dollar, but they do not let us. How can we make payments? In a currency that is acceptable to our partners. The yuan is one of these currencies, especially since it is used by the International Monetary Fund.
Do you know that the Middle Eastern oil-producing countries have announced they want to use the yuan for settlements? We will be gradually expanding this and will be expanding the use of the reliable currencies."
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