Business · Trade · 14 hrs ago
Russia says EAEU trade has shifted fully to national currencies
Russia says it has moved all trade with Eurasian Economic Union partners to national currencies.
The bloc includes Russia and other member states, and the announcement was made by Russian official Sergey Glazyev in Minsk.
He said the change means the trade no longer uses the US dollar, euro, pound or other foreign currencies.
The shift is intended to reduce reliance on currencies that Russia says can be used for political pressure.
Glazyev also said proposals have emerged for a global settlement currency.
He suggested developing such a currency through the Union State of Russia and Belarus, with Minsk as a possible base.
No launch date or further details were given.
Russia has fully shifted trade with Eurasian Economic Union member states to national currencies, State Secretary Sergey Glazyev said.
He said the trade no longer uses the US dollar, euro, pound or other currencies he described as “toxic” and used as political tools.
Glazyev made the announcement at the 4th Minsk International Conference on Eurasian Security.
He said proposals for a global settlement currency had emerged and could be considered within the Union State of Russia and Belarus.
- Who
- Russia, according to State Secretary of the Union State Sergey Glazyev.
- What
- Trade with EAEU member states has shifted fully to national currencies, Glazyev said.
- When
- November 3; the article was published in 2026.
- Where
- At the 4th Minsk International Conference on Eurasian Security in Minsk.
- Why
- Glazyev said some currencies had become “toxic” and were used as political tools for pressure.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Trade settlement
- National currencies
- Organizations
- Eurasian Economic Union (EAEU) and Union State of Russia and Belarus
- Speaker
- Sergey Glazyev
- Conference
- 4th Minsk International Conference on Eurasian Security
- Announcement date
- November 3, 2026
What people are saying
All mutual trade within the Union State and the EAEU between Russia and its key partners has been shifted to national currencies. In fact, we no longer use the dollar, the euro, the pound, or any other currencies that have become toxic and are weaponized as political tools for pressure.
Nothing prevents us from launching such a settlement currency as a step forward within our Union State, based at the high-tech hub in Minsk. Relevant proposals are, so to speak, already on the table.