Russia is drastically reducing reserves denominated in U.S. dollars, Foreign Minister Sergei Lavrov said at the State Duma on Wednesday.

"We are drastically reducing foreign currency reserves denominated in U.S. dollars," Lavrov said.

"The process has not passed unnoticed. The West is not the only one asking questions. It has become easier for our economic operators to make transfers. The Central Bank has built a financial messaging system, and it works," Lavrov said.