Kyrgyz MPs have ratified a bill that will allow customs duties between certain member countries of the Eurasian Economic Union (EEU) to be paid in rubles.
The new law allows funds to be transferred in rubles between Russia, Belarus and Kyrgyzstan, at the exchange rate of the national banks of the sending countries.
“Armenia, Kazakhstan and Kyrgyzstan between themselves will make transfers of mutual obligations on distributed import customs duties, as before, in U.S. dollars,” the Kyrgyz parliament emphasized.
During the transition period, interest for late transfer of import duties will not be accrued.
EEU member countries distribute revenues from import duties according to the size of their own economies. Kyrgyzstan’s share is 2%.
