Two nations from the Eurasian Economic Union (EAEU) have settled trade worth 9 trillion rubles, equivalent to $112 billion. Payment settlements have been initiated in national currencies, with the ruble being the primary currency used. This marks a significant shift in global trade where the US dollar is taking a backseat in cross-border transactions. EAUE countries are driving de-dollarization forward by pushing national currencies forward and sidelining the USD for payment settlements.

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EAUE Countries: Russia & Kyrgyzstan Pay $112 Billion in National Currencies

Russia Kyrgyzstan Flags
Source: intermol.su

Russian Prime Minister Mikhail Mishustin confirmed that trade between EAUE countries is settled in national currencies, not the USD. The settlements were imitated in the first five months of 2025 alone, indicating a surge of 6.8% from last year. This is “a significant boost to mutual trade,” said Mishustin during a meeting with Kyrgyzstan’s cabinet head Adylbek Kasymaliyev. The EAUE alliance consists of five member nations: Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia.

“Its volume added 6.8% last year, approaching 9 trillion rubles ($112 billion). The potential is even higher,” he noted. The EAUE bloc is equipping itself with steady investments and trade, and the numbers could soar higher next year. This puts the USD on the back foot as national currencies rule the roost among EAUE nations. Moreover, sanctions placed on Russia by the White House are what’s making the alliance use local currencies for trade and transactions.

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Kasymaliyev also stressed that trade between Kyrgyzstan and Russia is expected to reach the $5 billion mark in the coming years. “We are confidently approaching the target mark of $5 billion,” he said. “Over the first five months of this year, trade turnover already grew by 16% and amounted to $1.3 billion,” he stressed. He added that the EAUE settling $112 billion in national currencies and not the USD is “solid results.”

  • currency
  • EAUE
  • Eurasian Economic Union
  • Kyrgyzstan
  • Ruble
  • Russia