Putting Benjamin to bed? In major move, China & Russian-led EEU bloc to replace trade in dollar & euro with domestic currencies

The Eurasian Economic

The Eurasian Economic Union (EAEU), an analogue to the EU in the post-Soviet space, should begin using its own currencies in trade, rather than the Euro and Dollar, which dominate commerce between the member states and China.

That’s a consensus agreed upon at a virtual forum on Monday, dedicated to integrating the five EAEU member states with China’s flagship foreign policy initiative, ‘One Belt, One Road’. Founded in 2010, The EAEU is made up of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, and in recent years has actively sought a closer relationship with Asia, especially Beijing.

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