ArmInfo.Today, 74% of mutual trade is carried out in national currencies in the EAEU. Chairman of the Board of the Eurasian Economic Commission (EEC) Mikhail Myasnikovich announced this during an interview with TASS.
In particular, he noted that the percentage or share of settlements in national currencies can be increased by Armenia, Kazakhstan and Kyrgyzstan, where settlements in national currencies still range from 30% to 50%. "It is quite possible to reach the level of about 82-85% in national currencies", the head of the EEC said.
At the same time, he stressed the importance of using national currencies in pricing. <We are talking about the currency of the agreement. And so our economic entities conclude agreements in reserve currencies, especially for commodities, and then recalculation takes place in the calculations. That is, it is necessary that the currency of the contract is also national, then this issue is resolved in a complex>, Myasnikovich said.
At the same time, the Member of the Board pointed out the need to establish local commodity exchanges (hydrocarbons, metals, rare earth materials, etc.), which can form pricing in national currencies. In March 2022, the EEC Council decided on a phased transition to settlements in national currencies within the Eurasian Economic Union (EAEU). Minister of Economic Development of Russia Maxim Reshetnikov explained that we are talking about mutual settlements in national currencies when making customs payments in Armenia, Belarus, Kazakhstan and Kyrgyzstan. In April, it was already announced that Armenia and Belarus started paying for Russian gas in rubles.