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Russia could reduce to zero its economic
dependency on the United States if Washington agreed sanctions
against Moscow over Ukraine, a Kremlin aide said on Tuesday,
warning that the American financial system faced a “crash” if this
happened.
“We would find a way not just to reduce our dependency on the
United States to zero but to emerge from those sanctions with great
benefits for ourselves,” said Kremlin economic aide Sergei Glazyev.
He told the RIA Novosti news agency Russia could stop using
dollars for international transactions and create its own payment
system using its “wonderful trade and economic relations with our
partners in the East and South.”
Russian firms and banks would also not return loans from American
financial institutions, he said.
“An attempt to announce sanctions would end in a crash for the
financial system of the United States, which would cause the end of
the domination of the United States in the global financial system,” he
added.
He said that economic sanctions imposed by the European Union
would be a “catastrophe” for Europe, saying that Russia could halt
gas supplies “which would be beneficial for the Americans” and give
the Russian economy a useful “impulse”.
Glazyev has long been seen as among the most hawkish of the advisors
to President Vladimir Putin but many observers have seen his hand
in the apparent radicalisation of policy on Ukraine since the
overthrow of president Viktor Yanukovych.
Economists have long mocked his apocalyptic and confrontational
vision of global economics but also expressed concern that he appears to
have grown in authority in recent months.
A high ranking Kremlin source told RIA Novosti that Glazyev was
speaking in the capacity of an “academic” and his personal opinion did
not reflect the official Kremlin policy.
Glazyev descrived the new Ukrainian authorities as “illegitimate and
Russophobic”, saying some members of the government were on lists of
“terrorist organisations, they are criminals”.
“If the authorities remain criminal then I think the people of Ukraine
will get rid of them soon,” he added.
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