Medvedev may push ‘supranational currency’

The Russian government won’t rule out a new, international currency Russian President Dimitry Medvedev said Tuesday.

“My idea is that at the moment the world needs the larger number of reserve currencies, and it is not because the dollar is bad or the euro is not sufficient,” Medvedev told CNBC about his standing idea for an expanded basket of international reserve currencies, including the Russian ruble.

“But at that we do not deny a possibility of creating a so-called supranational currency,” which the Russian leader described as a way to “link” international currencies.

“I do not think that the positions of the dollar would be shattered by that,” he told the financial network’s Maria Bartiromo. “

Medvedev said that the future of international currency is “creating the modern rules of the game,” which he said would need new financial regulations.

He said that such a system would take into consideration the United States’ perspective, alongside a number of other countries’ preferences — including Russia and China.