去美元化:俄罗斯在俄美金融战中的反击

De-dollarization:Russia’s Counterattack in the Russian-American Financial War

乌克兰事件后,俄罗斯在美欧等国的金融制裁背景下开始了去美元化进程。俄罗斯实施的去美元化政策有维护本国货币主权、与美国进行战略博弈、反制美欧金融制裁、对美元的霸权地位与美国经济实力不匹配的担忧、推动国际金融秩序多元化等多重动因。为实施去美元化,俄罗斯制定了完整的策略,采取了减少美元直接使用、降低在外汇储备中的比例、大幅抛售美国国债、拓展非美元融资、增持黄金、建立本国的支付系统和金融信息交换系统等去美元化措施。俄罗斯的去美元化措施是在俄美金融战中的防守反击之举,虽不能在短期内消除美元霸权对俄罗斯经济的影响,但对世界范围内去美元化潮流的形成具有显著的示范效应,对打破美元为主导的国际货币体系、建立新的国际经济金融体系具有重要的历史意义。

After the Ukraine Incident in 2014,Russia began the process of de-dollarization under the background of financial sanctions from the United States and Europe Union.Russia’s de-dollarization policy has multiple motivations:safeguarding its currency sovereignty,playing a strategic game with the US,countering the US and EU financial sanctions,worrying about the the true value of the dollar,promoting the diversification of the international financial order.Russia has formulated a complete strategy to reduce the direct use of US dollars,reduce the proportion of US dollars in foreign exchange reserves,sell US Treasury bonds sharply,expand non-dollar financing,increase its holdings of gold,and establish its own payment system and financial information exchange system.Russia’s de-dollarizatio n measure is a defensive counterattack.Although it can not eliminate the impact of US dollar hegemony on Russia’s economy in the short term,it has a significant demonstration effect on the formation of the trend of de-dollarization around the world,and is also of great historical significance for breaking the international monetary system dominated by US dollar and establishing a new international economic and financial system.