In Minsk on 30 October 2026, Roman Golovchenko, chairman of the Belarus National Bank, announced that the share of payments in national currencies for goods and services traded within the Eurasian Economic Union (EAEU) has climbed to 93.5 %. The statistic was released during a meeting of the advisory council on currency policy of the central banks that represent the EAEU’s five member states.
Golovchenko said the rise is a product of market mechanisms, with businesses increasingly preferring reliable, predictable instruments that do not require administrative coercion. He added that expanding settlements in national currencies “helps reduce transaction costs and currency risks for the bloc.” The council’s agenda also covered the current economic climate, monetary policy measures, and ways to deter unauthorized payments. Discussions extended to the potential introduction and regulation of central‑bank digital currencies and virtual assets within the union.
The 93.5 % figure means that nearly all trade between Russia, Kazakhstan, Belarus, Kyrgyzstan, and Armenia now settles in the respective domestic currencies rather than in a single common payment medium. By avoiding mandatory conversion to a shared currency, member states can limit exposure to exchange‑rate volatility and the administrative overhead associated with currency‑settlement mandates. The shift therefore acts as a self‑contained hedge for businesses that import or export across EAEU borders.
For the institutions governing the union, the move to higher domestic‑currency settlement rates carries implications for monetary coordination. Central banks now face a narrower scope for influencing cross‑border payments through shared policy tools, and must instead navigate a more fragmented currency landscape. The meeting’s brief on digital‑currency regulation indicates that EAEU policymakers are beginning to assess how innovations such as central‑bank digital currencies could further streamline settlement processes and strengthen regulatory oversight.
The actors most directly affected by the new payment regime are enterprises that operate within, or trade to, the EAEU block. Medium‑to‑large companies now enjoy lower transaction costs and a reduced need for hedging currency exposure, which can translate into tighter budgets and more predictable cash flows. Small‑to‑mid‑size firms, especially those whose operations involve barter or credit terms across borders, stand to gain from a more stable and transparent payment environment. For citizens, the ripple effect lies in the potential for lower import taxes and more stable prices, as businesses absorb fewer costs associated with currency exchange.
While the 93.5 % milestone highlights a significant step toward economic integration, it also underscores the evolving balance between national sovereignty and supranational coordination. In the coming months, observers will watch how the EAEU’s central banks reconcile the need for standardized monetary oversight with the practical benefits of localized currency settlements.
