EAEU Works to Reduce Dollar Share in Mutual Settlements

The member countries of the Eurasian Economic Union (EAEU) are actively working to reduce the share of the dollar in mutual settlements. This was stated by Deputy Minister of Economic Development Dmitry Volvach.

“EAEU countries are intensifying efforts to cut the share of the dollar in mutual settlements. Ensuring mutual settlements in national currencies among the beneficiaries of member states is one of the principles of implementing a coordinated monetary policy in the EAEU. We have been doing this work for over a year, and today most of the union's settlements are made in national currencies,” he said.

According to the deputy minister, the share of settlements in national currencies increased from 63 percent in 2013 to 74 percent in 2021.

“During the EAEU Council meeting on March 17, the countries discussed the possibility of conducting settlements in Russian rubles within the framework of the transfer and distribution of import customs duties by mutual agreement,” the press service of the Ministry of Economic Development reported.