Eurasian Economic Union intends to refuse using dollar and euro

Cross-country operations in dollars and the euro may be prohibited in the territory of the Eurasian Economic Union (EEU, includes Russia, Belarus, Kazakhstan and Armenia), the Izvestiya writes.

The transfer to settlements in national currency (rubles, Belarusian rubles, tenges, drums) must occur by 2025-2030. This proposal is contained in the concept of development of the payment systems in the territory of the EEU, - chairman of the National Payments Council’s Board of Directors, vice-president of the Russian Union of Industrialists and Entrepreneurs, Alexander Murychev reports. On Friday, November 28th, at the meeting on the development of payment systems and infrastructure of the EEU in Kazan, he presented the details of his proposal; National Payments Council takes part in developing the concept.

According to Murychev, the concept provides for the creation of infrastructure of public payment area of member states, which enables them to make payments according to the compatibility of national card systems, including a Russian national payment card system, which is being created, and systems BelKart (Belarus) and Armenian Card (ArCa) that work already. The document also proposed to abandon the dollar and the euro circulation in the territory of the EEU.