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Eurasian Economic Union

Russia switches to national currencies in trade with EAEU states — official

According to State Secretary of the Union State of Russia and Belarus Sergey Glazyev, the first proposals to introduce a global settlement currency have already emerged

MINSK, November 3. /TASS/. Russia has fully transitioned to national currencies in trade with the Eurasian Economic Union (EAEU) member states, bypassing the use of the US dollar and the euro, State Secretary of the Union State of Russia and Belarus Sergey Glazyev announced at the 4th Minsk International Conference on Eurasian Security.

"All mutual trade within the Union State and the EAEU between Russia and its key partners has been shifted to national currencies. In fact, we no longer use the dollar, the euro, the pound, or any other currencies that have become toxic and are weaponized as political tools for pressure," Glazyev said.

According to him, the first proposals to introduce a global settlement currency have already emerged. "Nothing prevents us from launching such a settlement currency as a step forward within our Union State, based at the high-tech hub in Minsk. Relevant proposals are, so to speak, already on the table," Glazyev added.

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