Head of the Council of the Republic Mikhail Myasnikovich said that the integration process within the Eurasian Economic Union was slow, and that by introducing the single currency the states with large economies would completely subordinate other EEU members, including Belarus, which would lose her sovereignty. Official Minsk voiced disappointment with the Eurasian integration process, which had not stimulated the Belarusian economy and had not resolved economic imbalances – first of all, had not helped to unload the overstocked warehouses at Belarusian enterprises or prevented from suspension of production. The Belarusian authorities do not want to lose monetary sovereignty and would not introduce the single currency on the Kremlin’s terms in the immediate or distant future. However, the Belarusian authorities may agree to coordinate monetary policy with Moscow in exchange for the lifting of restrictions on Belarusian goods to access the Russian market.
