The countries of the Eurasian Economic Union (EAEU) are far from implementing a single currency space. According to TASS, this opinion was expressed by former Prime Minister of Armenia (2008-2014), former head of the Eurasian Economic Commission (2016-2020), Deputy Chairman of the Management Board of the Eurasian Development Bank (EDB), and curator of the Digital Initiatives Fund Tigran Sarkisyan during a meeting with students of the St. Petersburg State Economic University.
"This question has been raised over the past ten years as the EAEU was being formed, it was on the agenda. We have the experience of the EU before us - the formation of a single currency space and the introduction of the euro. But we are very far from being ready to implement a single currency. Harmonization of the legislation of the five countries, harmonization of the legislation regulating the banking sphere, needs to be resolved. This requires painstaking work, which is yet to be done," he said.
Sarkisyan added that the current task today is the formation of a single payment space. "Especially considering the sanctions, when artificial obstacles are created for effective interaction between the EAEU countries and partners in the free trade zone, this is a relevant task," he noted. According to Sarkisyan, such a system should be created with Iran, Egypt, Vietnam, India, Singapore, and China.
