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MIL OSI Translation. Region: Russian Federation –

06/23/2021

The states of the Eurasian Economic Union (EAEU) have increased the share of the ruble in mutual settlements to more than 70%. This was stated by the Deputy Prime Minister of the Russian Federation Alexei Overchuk, speaking at the Federation Council.

“In the trade turnover between the EAEU countries, there is a tendency towards an increase in the role of the Russian ruble. Over the past five years, its share in the structure of payments has increased to 72.5%,” Overchuk said, specifying that we are talking about data for 2019.

Earlier it was reported that at the end of 2019, mutual trade in national currencies amounted to 74%. At the same time, the dollar accounted for about 19% of settlements, and the euro – about 7%.

EAEU Economy

The EAEU economy in 2021 may grow by 3.2%, Overchuk said. “The expected growth of the Union’s economy in 2021 will be 3.2%,” he added. According to him, the decline in the EAEU economy during the pandemic was lower than in the European Union.

“Stress testing of the economies of the EAEU member states in 2020 demonstrated their viability. The economic decline in the EAEU space was 2.9%. For comparison, the GDP of the European Union is a fall of 6.3% and that of the eurozone – 6.6%,” the vice-president noted. -premiere.

At the same time, according to him, the pandemic has significantly brought the countries of the union closer together, and also contributed to the start of discussions on solutions to ensure the security of the common market.

“The pandemic has brought our countries closer together, and also prompted the discussion of more systemic solutions aimed at protecting our common market and its consumers,” he said, adding that the Union countries are starting to discuss the possibility of creating an emergency food fund in the EAEU

The EAEU is an international economic integration association, whose members are Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. Observer status was granted to Moldova, Cuba and Uzbekistan.

Hydrocarbon energy sources

The EAEU states need to develop a new economic policy in relation to EU measures restricting the use of hydrocarbon energy sources, Overchuk said.

“Developed countries have decided to abandon not only hydrocarbon energy sources and internal combustion engines, but also from goods that produce a significant carbon footprint. New restrictive measures will affect the main items of Russian exports, which will lead to the need for a large-scale restructuring of the economy. adopt a common economic policy in this area, use the collective bargaining resource to interact with such major economies as the EU, the United States and China, “the Deputy Prime Minister said.

Overchuk also noted that the climate agenda is fraught with serious challenges for the economies of the EAEU countries.

The EAEU is an international economic integration association, whose members are Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. Observer status was granted to Moldova, Cuba and Uzbekistan.

A source: TASS

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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