Mishustin proposed to develop the common payment space of the EAEU – Kommersant

Russian Prime Minister Mikhail Mishustin said that the countries of the Eurasian Economic Union (EAEU) are increasing settlements in national currencies. 80% of the banks of the EAEU member states are connected to the financial messaging system. According to the prime minister, Russia proposes to develop a common payment space on this basis.

“We propose to develop a common payment space on the basis of national currencies, to introduce the Eurasian rating system. Thus, we will improve the investment climate, increase the security of settlements and the stability of our economies,” Mr. Mishustin said at a meeting of the intergovernmental union (quoted from TASS).

The share of national currencies in mutual settlements of the EAEU states in 2022 amounted to 74%. According to RSPPthe volume of mutual trade in goods of the EAEU set a historical record last year, increasing by 10.3%, to $80.6 billion. In May, Russian President Vladimir Putin offered establish a Eurasian rating agency to “adequately” assess the growing economic activity of the EAEU countries.

In August 2022, the prime ministers of the EAEU countries at the summit in Kyrgyzstan agreed recommendations for expanding settlements in national currencies. In particular, it is planned to develop a network of correspondent bank accounts in national currencies, mutual settlements without the exchange of financial information in SWIFT, trading in currency pairs and commodity assets in national currencies.

Lusine Balasyan