Medvedev is pushing for the Russian Ruble to be a reserve currency which would cut into the dominance of the U.S. Dollar. His wish is to make Moscow a global financial hub and to help lift an ailing Russian economy. The Russians saw their GDP shrink 7.9% last year and that marked the worst decline since the fall of communism.
To read a related Bloomberg article, please click here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a3bvnrUreAF4&pos=6
Jim Sutliff