The EEC wants to create a single payment system with the BRICS countries

The Eurasian Economic Commission (EEC) proposed to create a payment system for the BRICS countries and the Eurasian Economic Union (EAEU) with a common payment card. It will be able to unite the national systems of China (Union Pay), India (RuPay), Brazil (Elo), the EAEU countries (Mir, Belkart, etc.), report "News".

The proposal was voiced by the Chairman of the EEC Board Vladimir Kovalev. The press service of the EEC stated that the EAEU is working on the formation of a common financial market. In particular, one of the main directions is the construction of a common exchange space, and the corresponding roadmap is already being implemented. "The establishment of a supranational body for the regulation of the financial market is envisaged," the EEC press service added.

The EAEU includes Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan. BRICS includes Russia, Brazil, India, China, South Africa.

In June, Russian President Vladimir Putin informedthat the issue of creating an international reserve currency based on the basket of currencies of the BRICS countries is being worked out. He said that Russia, together with its BRICS partners, is also developing new mechanisms for international payments.

How pointed out Bloomberg, by November, in six of the nine countries in which the Russian payment system Mir operated, banks had abandoned it amid the threat of US sanctions. In recent months, banks in Armenia have stopped servicing transactions through Mir, Vietnam and Kazakhstan, KyrgyzstanTajikistan, Turkey, Uzbekistan.

About the unpopularity of the "Mir" - in the material "Kommersant FM" “The world is moving away from risks”.

Laura Keffer

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