Minsk-Moscow trade in national currencies reaches 85% — Ambassador
In terms of monetary policy, he added, the Union State coordinates with choices made within the framework of the Eurasian Economic Union.
The volume of trade between Minsk and Moscow in national currencies reached 85%, the Ambassador of Belarus to Russia Dmitry Krutoy said on Sunday.
"In terms of monetary policy, the primary focus was on the establishing a single payment zone. The Presidents [of Russia and Belarus, Vladimir Putin and Alexander Lukashenko] heard about the efforts being made to boost the share of settlements in national currencies, which is a cornerstone of our overall anti-sanction campaign. Since last year, 85% of our trade has been conducted in national currencies," the ambassador said according to BelTA.
In terms of monetary policy, he added, the Union State coordinates with choices made within the framework of the Eurasian Economic Union. "Among other things, our Union State must remember the Eurasian Economic Union. We have defined the long-term aim of transitioning all countries to the inflation targeting regime as the major goal of the EAEU," the envoy stated, adding that the Union State might reach this goal by 2025.
Earlier, Belarus' President urged Eurasian Economic Union countries to follow Minsk and Moscow's lead and actively shift to mutual settlements in national currencies, ditching the dollar.
Against the backdrop of Western sanctions, Minsk and Moscow completed all necessary steps to convert the two countries' primary settlements into Russian rubles. Minsk, in particular, pays for gas supplies from the Russian Federation in Russian rubles beginning April 1, 2022.
Source
The volume of trade between Minsk and Moscow in national currencies reached 85%, the Ambassador of Belarus to Russia Dmitry Krutoy said on Sunday.
"In terms of monetary policy, the primary focus was on the establishing a single payment zone. The Presidents [of Russia and Belarus, Vladimir Putin and Alexander Lukashenko] heard about the efforts being made to boost the share of settlements in national currencies, which is a cornerstone of our overall anti-sanction campaign. Since last year, 85% of our trade has been conducted in national currencies," the ambassador said according to BelTA.
In terms of monetary policy, he added, the Union State coordinates with choices made within the framework of the Eurasian Economic Union. "Among other things, our Union State must remember the Eurasian Economic Union. We have defined the long-term aim of transitioning all countries to the inflation targeting regime as the major goal of the EAEU," the envoy stated, adding that the Union State might reach this goal by 2025.
Earlier, Belarus' President urged Eurasian Economic Union countries to follow Minsk and Moscow's lead and actively shift to mutual settlements in national currencies, ditching the dollar.
Against the backdrop of Western sanctions, Minsk and Moscow completed all necessary steps to convert the two countries' primary settlements into Russian rubles. Minsk, in particular, pays for gas supplies from the Russian Federation in Russian rubles beginning April 1, 2022.
Source