Russia, Belarus, Kazakhstan and Armenia may abandon settling in dollars and euros by 2025-2030, Alexander Murichev, a representative of the National Payments Council, told Russian newspaper Izvestia. The Russian ruble, the Belarusian rubel, the Kazakhstani tenge and the Armenian drum are expected to replace foreign currency in mutual payments.
“Foreign currencies – the U.S. dollar and the euro account for about half of mutual payment transactions, which develops the Eurasian Economic Union’s dependence on the corresponding economies,” Murichev states.
The agreement on the establishment of the Eurasian Economic Union (EEU) is to come into force on January 1, 2015.
Coming in succession to the Eurasian Economic Community, the EEU is another step to the integration of a number of former Soviet countries.
