The Role of the National Currencies of the EAEU Countries in the Context of the de-Dollarization of the Global Economy
EDN: ZUNVNU
Abstract
Aim. The article analyzes current trends in the transformation of the global monetary system related to the intensification of the process of de-dollarization and the transition to the use of national currencies in foreign trade settlements, particularly in the EAEU and BRICS countries. Methods. The study is based on a systematic analysis of macroeconomic indicators, statistical processing of payment system data, and a comparative legal method for evaluating new financial instruments (CBDC, BRICS Bridge). Results. It was revealed that by the beginning of 2026, the share of settlements in national currencies within the EAEU had reached a record-breaking 93%, marking the end of the “forced” de-dollarization phase and the transition to the “institutional” integration phase. It was established that the ruble had taken a dominant position (approximately 75% of mutual settlements), serving as the regional leading currency. The paradoxical effects of this process were analyzed: the strengthening of the dollar despite its declining share in reserves. The key role of central bank digital currencies (CBDCs) and the BRICS Bridge platform as a technological foundation for the next stage of integration has been substantiated. Conclusions. It has been proven that the EAEU is a global leader in terms of the level of de-dollarization of trade, forming a sustainable model of a multipolar financial system. Further development requires deepening the harmonization of monetary policies and managing accumulated imbalances (the problem of “toxic” balances of national currencies).
About the Author
A. S. Akmatalieva
Russian Presidential Academy of National Economy and Public Administration, Western Branch
Russian Federation
Russian Federation
Aida S. Akmatalieva, PhD in Economics, Associate Professor of the Department of Customs Affairs
Kaliningrad
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Review
For citations:
Akmatalieva A.S. The Role of the National Currencies of the EAEU Countries in the Context of the de-Dollarization of the Global Economy. EURASIAN INTEGRATION: economics, law, politics. 2026;20(2):32-42. (In Russ.) EDN: ZUNVNU
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