October 2, 2019 / 12:43 PM / 19 days ago

Russia's Putin says global confidence in dollar is falling

FILE PHOTO: An employee counts U.S. dollar bills at a money exchange office in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany.

MOSCOW (Reuters) - Washington’s use of the dollar as a political tool is backfiring as more and more countries are reducing their holdings of the greenback and switching to other currencies in trade contracts, Russian President Vladimir Putin said on Wednesday.

Putin also said the U.S. was “rudely intervening” in European affairs by objecting to the construction of the Nord Stream gas pipeline.

Reporting by Vladimir Soldatkin, Dmitry Zhdannikov and Olesya Astakhova; Writing by Olzhas Auyezov; Editing by Hugh Lawson

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