The share of the ruble in trade between the EAEU countries exceeds two thirds

Currently, the share of the ruble in trade between the countries of the Eurasian Economic Union (EAEU) exceeds two-thirds, as stated by Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission (EEC) Sergey Glazyev on April 4.

Glazyev said in an interview with RIA Novosti that serious progress has been made in the internal settlements of the EAEU countries and the share of payments in national currencies has increased from 63 per cent to 74 per cent from 2013 to 2020.

At the same time, he noted that Russia uses rubles to pay 82% of its trade turnover with Belarus, 63% with Kazakhstan and 58% with Kyrgyzstan.

"The share of ruble in the mutual trade of the EAEU is significant, but there is room to increase it in countries such as, for example, Kyrgyzstan, 40% of trade turnover with which is served in dollars. In Kazakhstan and Belarus, the second most important settlement currency is also the dollar, which occupies 28 and 9% of Russia's trade turnover with these countries, respectively," said the minister for integration and macroeconomics of the EEC.

As REGNUM news agency reported, it became known on April 1 that Russia would resume exports of seed crops and corn to Kyrgyzstan, Kazakhstan, Armenia and Belarus.

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