Wednesday, October 22, 2025

Trade Bloc EEU Looking to Create Joint Payment System With BRICS

The Eurasian Economic Union (EEU) is looking to create a joint payment system with BRICS countries, in an effort to cut dependence on the US dollar and other western currencies.

The EEU, a Russia-led post-Soviet bloc consisting of Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan focusing on the free trade of goods, services and capital amongst member nations, is mulling creating a single payment card with BRICS members to bring together each country’s major payment system, including Russia’s Mir, India’s RuPay, China’s Union Pay, and Brazil’s Elo.

“We’ve made substantial progress and now the work is focused on such sectors as banking, insurance and the stock market,” said EEU chairman advisor Vladimir Kovalyov, as cited by Russian newspaper Izvestia. The EEU is also planning to establish a regulatory body uniting the two blocs as part of the joint infrastructure. The BRICS group, which is comprised of Brazil, Russia, India, China, and South Africa and accounts for almost one quarter of the world’s GDP, has been increasing efforts to cut reliance on the western monetary system.


Information for this briefing was found via Izvestia. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Israel Cuts US Dollar Holdings, Adds Chinese Yuan To Its $206 Billion Reserves

Israel’s central bank has made the biggest reallocations to its foreign currency reserves in over...

Thursday, April 21, 2022, 04:17:00 PM

Nouriel Roubini Joins Zoltan Pozsar In Seeing Renminbi Threatening US Dollar’s “Exorbitant Privilege”

Atlas Capital Team chief economist Nouriel Roubini did not hold back in characterizing the threat...

Tuesday, February 7, 2023, 03:51:00 PM

BRICS Pay Debuts, Threatening U.S. Dollar Dominance On Global Markets

In a move that signals a potential shift in global financial power, BRICS (Brazil, Russia,...

Thursday, October 17, 2024, 02:36:00 PM

Republican Lawmakers Move To Peg US Dollar To Gold, But Is It Worth The Weight?

In arguably one of the worst economic situations in the US amid rising interest rate...

Thursday, April 6, 2023, 02:15:00 PM

Is The Russian Ruble About To Become A Gold Standard Currency?

Did Russia’s central bank just upend the entire global monetary system and unilaterally use the...

Sunday, April 3, 2022, 09:00:00 AM