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20 May 2022, 15:22

Belarus' PM urges to phase out use of dollars, euros in CIS

MINSK, 20 May (BelTA) – It is necessary to minimize the use of dollars and euros in mutual settlements within the CIS as much as possible, Belarusian Prime Minister Roman Golovchenko said at an online meeting of the CIS Heads of Government Council on 20 May, BelTA has learned.

“It will be impossible to achieve sustainable economic growth amidst the economic war against us without solving one of the fundamental tasks, which is minimizing the use of dollars and euros in mutual settlements. This move will not only increase direct cross-border settlements between the participating countries, but also stimulate mutual trade and protect exporters and importers from fluctuations in the exchange rates of currencies of third countries,” Roman Golovchenko said.

The prime minister recalled that since April 2022, Belarus has been using Russian rubles to pay for Russian energy. “The Commonwealth has created to a large extent the necessary payment infrastructure that will allow phasing out the use of American and European currencies. Trading in national currencies is becoming more widespread, but the share of mutual settlements in dollars and euros remains significant. In this regard, I ask the heads of delegations to intensify work in this area. The Interstate Bank has compiled a list of proposals. I deem it necessary to consider them in a priority manner,” he said.

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