Cooperation between Belarus and Russia makes it possible to effectively stand up to the sanctions pressure.
The implementation of 28 integration programs adopted in 2021 has shown the benefits of further convergence of the two states. Today, seven programs concerning the issues of goods traceability, transport, currency, veterinary and quarantine phytosanitary control, the financial sector, accounting, nuclear energy development, have been fully implemented.
Belarusian-Russian integration is a process that develops in its own logic, it needs to be dynamic, but without spurring. Last year showed that the Union State is ready to respond promptly to tough economic conditions. Urgent decisions on import substitution programs are a significant achievement. The next step is a major transformation of trade logistics.
Deepening integration processes within the framework of the Union State is the response of Moscow and Minsk to the hybrid war on the part of the West. It is important to maintain the pace of integration to ensure dynamic stability. Therefore, the attention of the Belarusian President to the stable financing of union programs is natural.
It should be noted that last year demonstrated a serious restructuring of the entire system of financial relations in the Union State. Belarus and Russia switched to mutual settlements in national currencies, so as not to depend on fluctuations in the dollar and euro, speculation in the currency markets, as well as possible new sanctions. Settlements in the national currencies of Russia and Belarus in 2022 exceeded 80% in mutual trade, including due to the implementation of 28 union programs.
The issue of ensuring stable function of the financial system of the Union State is fundamental. Belarus and Russia are influenced by external factors, especially illegitimate restrictive measures. Today it is necessary to reach the level of strategic security of the financial system. Independence from the settlement system of the Western bloc ceases to be just a task, it is a new reality that needs no elaboration. Especially when everyone saw the economy had become hostage to the geopolitics and ambitions of separate countries.