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Putin considers it necessary to strengthen financial sovereignty of EAEU

It is reported that favorable conditions will be created for capital to remain inside the union and be invested in the ongoing growth of the economies of the union's members

MOSCOW, May 25. /TASS/. The countries of the Eurasian Economic Union (EAEU) should work to strengthen the organization's financial sovereignty, Russian President Vladimir Putin said on Thursday during a meeting of the Supreme Eurasian Economic Council.

"Common efforts should be aimed at strengthening the EAEU's financial sovereignty," he said. This may be accomplished, according to him, "by ensuring a stable credit, banking, and settlement infrastructure, as well as the development and harmonization of the Eurasian financial market."

As a result, Putin added, favorable conditions will be created for capital to remain inside the union and be invested in the ongoing growth of the economies of the union's members.

To that end, the Russian president stated that "it would be useful to establish a Eurasian rating agency that would ensure the availability of adequate assessment tools to serve the growing economic activity" within the EAEU. According to the president, "principled approaches, strict criteria, and the ability to follow these criteria" are also needed.

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