The President of Belarus, Alexander Lukashenko, has said that his country is ready to switch to national currencies in trade with Russia, instead of using the US dollar.

Speaking at a meeting with Russian President Vladimir Putin on June 29, 2023, Lukashenko said that Belarus and Russia should reduce their dependence on the US dollar and other foreign currencies in their bilateral trade.

He said that this would help the two countries to avoid the risks of currency fluctuations and sanctions from the West. He also suggested that Belarus and Russia should use their own payment systems and digital currencies.

Lukashenko’s statement came amid the growing tensions between Belarus and the West over the forced landing of a Ryanair flight in Minsk in May 2023, which led to the arrest of a dissident journalist and his girlfriend.

The EU and the US have imposed sanctions on Belarus for its crackdown on the opposition and civil society, as well as for its involvement in the Ryanair incident. The sanctions target individuals, entities and sectors of the Belarusian economy.

Russia, which is Belarus’ main ally and trading partner, has expressed its support for Lukashenko and condemned the Western sanctions as interference in Belarus’ internal affairs. Russia has also been facing sanctions from the West for its annexation of Crimea and its role in the conflict in eastern Ukraine.