The Global South should establish a new financial system to mitigate the risks posed by the West, the head of VTB Andrey Kostin says The dollar and the entire Western financial system built around it has been jeopardized by the sanctions on Russia, Andrey Kostin, CEO of Russia’s second-largest bank, VTB, told RT on the sidelines of the Eastern Economic Forum on Tuesday. Asked about Russia’s push toward switching trade to national currencies, Kostin responded that it is done out of necessity rather than a targeted attempt to undermine the greenback. “The dollar is illegally used as a weapon. It should not be done l
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