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Russia and Kazakhstan protect their trade by paying in national currencies

In 2023, the trade turnover between the two countries reached a record 28 billion. USD

Nov 27, 2024 13:43 57

Russia and Kazakhstan protect their trade by paying in national currencies  - 1

Moscow and Astana are increasingly using national currencies for mutual payments. Thanks to this, bilateral trade becomes independent of external influence, noted Russian President Vladimir Putin in an article for the newspaper "Kazakhstanskaya Pravda", published on the eve of his visit to Astana.

"The structure of mutual trade is constantly diversifying, with non-raw materials with high added value occupying an increasingly large place in it. In addition, the share of national currencies in mutual settlements is constantly growing, which allows protecting trade transactions between the two countries from the negative influence of external, including political conditions,”, the Russian leader pointed out.

Moscow and Astana managed to bring the bilateral trade turnover to an impressive level: last year it reached a record 28 billion. USD, and for the nine months of this year it exceeded 20 billion. USD.

Moscow and Astana are active supporters of Eurasian economic integration. They were the basis for the creation of the Eurasian Economic Union (EAEU).