Putin announced vigorous efforts to switch to national currencies in settlements with the CIS

Russian President Vladimir Putin said that the Russian Federation has intensified joint import substitution activities with the CIS countries. According to him, “energetic” efforts are being made to switch to settlements in national currencies.

“Joint activities on import substitution, strengthening technological and financial sovereignty have been activated. In particular, vigorous efforts are being made to switch to national currencies in mutual settlements between the Commonwealth countries,” Mr. Putin said at the Commonwealth summit in Astana (quoted by TASS).

October 7 Russian President spoke, that in 2021, Russia’s trade with the CIS countries increased by more than 30%, to $96 billion. He said that the transition to settlements in national currencies would lead to strengthening the financial sovereignty of countries, developing domestic capital markets, and deepening regional economic integration. October 13 Minister for Energy and Infrastructure of the Eurasian Economic Commission Arzybek Kozhoshev declaredthat almost all countries of the Eurasian Economic Union have agreed on the transition to paying for gas in rubles.

Read more about this in the material “Kommersant” “EAEU is preparing for a currency exchange”.

Daria Erozbek