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Almost all mutual payments in CIS are in national currencies — Kremlin aide

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Kremlin aide Yury Ushakov stated that CIS countries have developed a resilient financial infrastructure independent of external influence, with over 90% of mutual payments conducted in national currencies, and that North-South and East-West transport corridors are being upgraded.

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Why It Matters

The Commonwealth of Independent States (CIS) is a regional organization formed after the dissolution of the Soviet Union, comprising several former Soviet republics. The Kremlin has been promoting economic integration and reduced reliance on Western financial systems among member states.

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The financial infrastructure that is resilient and independent from external influence was built up within the Commonwealth,

MOSCOW, October 6. /TASS/. CIS countries developed a resilient financial infrastructure, Kremlin aide Yury Ushakov said at a briefing.

"The financial infrastructure that is resilient and independent from external influence was built up within the Commonwealth. Almost all mutual payments are being made in national currencies. Their share in commercial operations between our countries is above 90%," Ushakov said.

"The North-South and East-West transport logistical corridors are being upgraded and developed," he added.

Open Questions

Which specific CIS countries are participating in the financial infrastructure initiative?
What mechanisms ensure the independence of the financial infrastructure from external influence?
What is the timeline for completing upgrades to the North-South and East-West transport corridors?