The Algorithm for Creating a Regional System of Mutual Settlements in the EAEU Using a Collective Monetary Unit

The relevance of the article is to identify approaches to the issue and circulation of collective currency within the group of countries of the EAEU regional bloc to overcome sanctions barriers due to the depersonalization of the currency. The subject of the study is a mechanism in the form of a collective monetary currency that allows adapting the monetary circulation system of the EAEU member states to intraregional settlements.

The purpose of the work is to establish the characteristics and nature of the collective currency, the risks of using which may arise as a result of its use in the group of EAEU countries.

The results of the study are summarized in specific program activities that can form the basis of an updated agenda for regional monetary and financial integration within the EAEU countries in the context of current development trends. Based on the law of causation, conclusions have been obtained that are of significant economic importance for the EAEU member states in terms of the socio-economic development of countries and their involvement in the turbulent global monetary and financial system. The role and functions of the collective currency have been clarified, taking into account the adaptation of the Russian financial system to the consequences caused by the current Western sanctions.It is concluded that currently there is a rethinking of the tasks that can be assigned to collective currencies from the standpoint of digitalization of the monetary circulation and credit system and the loss of their national characteristics by money.

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