Chairman of the Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, said in an interview with Russia 24 channel that it was high time for Kyrgyzstan and the Russian Federation to switch to trade in national currencies.
He noted that this is necessary to strengthen the positions of the two countries in the context of anti-Russian sanctions.
«I talked about this ten years ago. And now the realities of life show that if we had been heard then, bypassing the dollar, we would have further strengthened our internal positions,» Akylbek Japarov said.
In the Kyrgyz Republic, he added, the cryptocurrency market has developed strongly. The National Bank has allocated more than 63 licenses in this direction.
«There is trade with other states at the level of stable cryptocurrency, including partners from Russia. Raw materials, supplies, products of the clothing industry are provided. Business is starting to get ahead of us. In this respect, we need to be more flexible, to work faster. We could use a special currency for mutual settlements, which would be guaranteed by the gold reserve of our countries,» the head of the Cabinet said.
In October 2023, Russian President Vladimir Putin reported that Russia and Kyrgyzstan are actively switching to the use of national currencies in mutual trade, the share of the ruble in commercial transactions has reached 83 percent.
