Lukashenko urged to abandon the dollar when trading hydrocarbons in the EAEU

President of Belarus Alexander Lukashenko believes that it is necessary to abandon settlements in US dollars when trading hydrocarbons in the Eurasian Economic Union (EAEU). He also called for accelerating the formation of common energy markets by the EAEU countries. He announced these initiatives during a speech at a meeting of the Supreme Eurasian Economic Council.

Mr. Lukashenko said that one of the main tasks for the EAEU is to coordinate measures to maintain exchange rates and the security of countries’ settlements. “I am sure the time has come for the EAEU to make a serious political decision to de-dollarize domestic hydrocarbon trade,” said the President of Belarus, urging to switch to settlements in national currencies (quote from TASS).

Alexander Lukashenko is sure that it is also necessary to continue simplifying mutual access to the financial markets of the EAEU member states. In addition, he proposed to accelerate the formation of common energy markets in the union. “Taking advantage of the mutual complementarity of our economies will ensure fast and high-quality economic progress in the union. In order to achieve the goals defined by the previously adopted strategy, it is very important to intensify the process of forming common energy markets, ”the President of Belarus said.

At the end of April, Kazan hosted a summit of the heads of government of the EAEU countries. The five prime ministers discussed, in particular, the transition from an anti-crisis to a post-pandemic economic policy. It is assumed that it will be based on strengthening industrial cooperation, on preventing the emergence of new barriers in the internal market of the union, as well as on the development of infrastructure.

Details – in the publication of “Kommersant” “EAEU claims for more”

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