EDB pushes for national currency transactions in Eurasia

A system to transmit financial messages can be created in Eurasia using the Eurasian Development Bank as a so-called regulatory sandbox, the executive said. The system is expected to bolster the role of national currencies in transboundary transactions and reduce the usage of U.S. dollars by the Eurasian Economic Union member states. Andrei Belyaninov mentioned the Eurasian Development Bank's intention to advance cooperation with the Development Bank of the Republic of Belarus and similar financial institutions of other EAEU member states.
The use of national currencies in the Eurasian Economic Union was high on the agenda of the conference. The use of the national currencies in export and import operations in the Eurasian Economic Union and in Greater Eurasia was discussed.