In the Ministry of Economic Development reported about the lack of demand for a single currency of the EAEU and the Union State

The topic of creating a single currency for the Eurasian Economic Union (EAEU) and the Union State of Russia and Belarus is not on the practical track now. This was stated in an interview with "Izvestia" Deputy Minister of Economic Development Dmitry Volvach.

"We have intensified over the past three years the practice and technology of using national currencies in settlements that serve the ever-growing trade turnover both in the Eurasian Economic Union and in the Republic of Belarus, created new, reliable, secure, seamless components and settlement structures. We have increased mutual transactions, let all national currencies to our currency exchange," he explained.

Now there is no request to create a new currency or a single currency, the trade turnover is well served by national monetary units, added Dmitri Volvach. Servicing by national currencies of trade turnover in the EAEU is already more than 90%, and in the Union State - more than 95%.

"At the same time, the EAEU is now actively working on the formation of a common financial market. Agreements on mutual admission of securities, brokers and dealers, banking and insurance organizations are in the works. Their conclusion will form an integration infrastructure of financial markets, which will serve as a good foundation for cross-pollination of our markets with finance and financial derivatives, growth of their investment attractiveness, exchange of best practices, as well as will contribute to improving the financial stability of the economies of the member states", - emphasized the deputy head of the Ministry of Economy.

Earlier, on December 26, 2024, Russian Minister of Economic Development Maxim Reshetnikov said that mutual trade between the EAEU countries for nine months increased by 12.3% compared to 2023 and totaled Br6.5 trillion. According to him, an important step was the agreement on a unified system of customs transit of the EAEU and third countries, which was signed by the heads of the Union.

At the same time, he told Izvestia about the transition of the Russian Federation to settlements with partners in rubles. He noted the large trade turnover between the countries. Also Reshetnikov shared that trade within the EAEU is stable and protected from external risks.

Earlier, October 1, Russian Prime Minister Mikhail Mishustin stressed that the Union State is the locomotive of integration within the EAEU, because Moscow and Minsk are working on the EAEU proposals to strengthen the free promotion of goods, services and labor precisely in a joint format.

The EAEU is an international organization of regional economic integration with international legal personality. It includes Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. One of the main advantages of the organization is a common labor market.