Belarus advanced the dollarization of Uzbekistan

Belarus was moving forward with the de-dollarization agenda with Uzbekistan and had submitted a proposal to settle bilateral trade in its own currency. At a press conference, Roman Golvinchenko, President of the National Bank of Belarus, stated that the two parties “had all the conditions” for financial cooperation. He revealed that Belarus was opening several Nostro accounts to make it easier for Uzbek exporters to pay in their own currency. Trade between the two countries is expected to reach $2 billion by the end of 2026, double last year。