MINSK, 24 May (BelTA) – The goal for 2023 is to completely move away from the U.S. dollar and the euro in trade with Russia and other EAEU countries, First Deputy Prime Minister Nikolai Snopkov said at the joint meeting of the House of Representatives and the Council of the Republic on 24 May, BelTA has learned.
“Settlements in toxic currencies - the U.S. dollar and the euro - have dwindled. The goal for 2023 is to completely move away from settlements in the U.S. dollar and the euro in trade with Russia and other EAEU nations (about 8% of settlements remain),” Nikolai Snopkov said.
Amidst external restrictions, the government in tandem with the National Bank significantly restructured the operation of the country's financial infrastructure. “Thanks to quick and clear actions, the work of credit institutions and the foreign exchange market returned to normalcy. The availability of the national payment and settlement infrastructure allowed avoiding external blocking of trade operations within the country. Belarusian banks use a financial information transfer system based on the Belarus Interbank Settlement Center,” Nikolai Snopkov said.
The National Bank has established a working group to coordinate foreign economic settlements. Upon the instruction of the regulator, working groups have been put together at banks to assist enterprises with making foreign trade payments.