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Putin urges EAEU nations to boost cooperation between national payment systems — TASS

Summary:
"A consistent reduction of economic risks created by the use of foreign currencies and payment systems for mutual trade is seen as an urgent task. We believe that connecting partners to the Bank of Russia's financial messaging system and developing inter-system cooperation between national payment systems is an indispensable condition for stable settlements within the Union," he said in an address to heads of EAEU members on the occasion of Russia’s chairmanship in the integration in 2023, which was published on the Kremlin’s website on Monday."Harmonization of financial markets should create favorable conditions for the member states' capital to remain within the union and for it to be invested in the national economies. We also consider it advisable to examine the possibility of

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"A consistent reduction of economic risks created by the use of foreign currencies and payment systems for mutual trade is seen as an urgent task. We believe that connecting partners to the Bank of Russia's financial messaging system and developing inter-system cooperation between national payment systems is an indispensable condition for stable settlements within the Union," he said in an address to heads of EAEU members on the occasion of Russia’s chairmanship in the integration in 2023, which was published on the Kremlin’s website on Monday.

"Harmonization of financial markets should create favorable conditions for the member states' capital to remain within the union and for it to be invested in the national economies. We also consider it advisable to examine the possibility of creating a Eurasian rating agency that would provide evaluation tools to service the growing economic activity in our macro-region," the [Putin] address reads....

Putin's speech contains more than just the payments system. 

TASS (Russian state media)

See also

Sputnik International (Russian state-sponsored media)
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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