Kazakhstan to Transition to Ruble for Customs Settlements with Russia and Belarus

In the Eurasian Economic Union (EEU), the transition to the Russian ruble for the import customs duties will relate to Russia and Belarus, while the other three member states will continue using the US dollar, stated Kazakhstan's government press service.

The agreement on the Eurasian Economic Union outlines the obligations of member states regarding the collection and mutual transfer of import customs duties to their respective budgets.

Due to sanctions, participating states are unable to transfer import customs duties to Russia and Belarus in dollars. Meanwhile, Kazakhstan, along with Armenia and Kyrgyzstan, will continue to distribute and collect import customs duties in US dollars, as noted in the statement.

Earlier, the council of the Eurasian Economic Commission (EEC) decided to implement a phased transition to settlements in national currencies for customs payments within the framework of the Eurasian Economic Union (EEU). This was announced by the Minister of Economic Development of Russia, Maxim Reshetnikov, during a broadcast on the Russia 24 television channel.