Belarus First Deputy Prime Minister Snopkov said in a speech in parliament on the 24th that Belarus plans to abandon the use of US dollars and euros in trade settlements with other countries in the Eurasian Economic Union by the end of 2023.
Snopkov pointed out that Western sanctions have caused settlement difficulties, and the current use of US dollars and euros in Belarusian trade settlements continues to decrease. Belarus aims to abandon dollar and euro settlement methods in trade with other countries in the Eurasian Economic Union within 2023. Currently, the US dollar and the euro account for about 8% of Belarus’ trade settlements with these trading partners.
Snopkov said that the National Bank of Belarus has set up a special working group to coordinate the settlement of foreign economic activities and help enterprises complete foreign trade settlements to the greatest extent.
Snopkov said that in the first quarter of this year, Belarus’ exports of goods and services hit a new high in nearly ten years, and its foreign trade maintained a surplus.
The Eurasian Economic Union was established in 2015, and its members include Russia, Kazakhstan, Belarus, Kyrgyzstan, and Armenia.