Putin Flushes the US Dollar: Russia’s Gold Ruble Payments System Delinked from Dollar? A New Financial System independent from Wall Street and City of London begins to take shape concretely in Russia? Russia “forced” by the sanctions to create a currency system which is independent from the US dollar. Russia announces that it will sell (and buy) products and commodities – including oil – in rubles rather than in dollars. The move is towards the development of bilateral. Putin has been preparing this move — the creation of a payment system in rubles completely independent and protected from the Dollar and the “killer speculations” (e.g. short-selling) of the big Western financial institutions — for a long time.