The speaker of the Federation Council (the upper house of the Russian Parliament), Valentina Matvienko said on Tuesday that Russia is working to reduce its dependence on the dollar. It is working to strengthen its ruble. According to the head of the upper house of the Russian Parliament, the dollar's share of Russia's foreign exchange reserves is declining and the country's investment in US government bonds has fallen to 1/30 of its level 10 years ago. " The Central Bank and the government have applied a policy of de-dollarization, as requested by the president in recent years ," Valentina Matvienko told the RIA Novosti news agency in an interview.

This process was progressing gradually and should not be rushed, adding that this policy firmly supported by Parliament would strengthen the country's sovereignty.

" We have recently made a lot of efforts to support the ruble and increase its attractiveness for companies and individuals alike. This is bearing fruit with an increase in deposits and loans in rubles. Citizens must believe in this motto ," she said.

However, the dollar will remain in circulation. In addition, the Chinese yuan (RMB) and the Japanese yen have been added to the regulatory monetary portfolio of the Sovereign National Fund of Russia (NWF).