While Western markets fixate on rate decisions and gold price charts, a more structural shift is being sketched in the Belarusian capital. At the Fourth Minsk International Conference on Eurasian Security in early November 2026, Sergey Glazyev, State Secretary of the Russia-Belarus Union State, outlined a practical next step away from the dollar: a digital world settlement currency that could launch first inside the Union State itself, anchored in a high-tech hub in Minsk and linked to national currencies or a basket of commodities—including gold.
The message was blunt. Mutual trade within the Union State and the broader Eurasian Economic Union has already moved almost entirely into national currencies. “In fact, we no longer use the dollar, the euro, the pound, or any other currencies that have become toxic and are weaponized as political tools for pressure,” Glazyev was quoted to have said in a report by news agency TASS. Nothing, he added, prevents launching a global settlement currency as the logical next move, with relevant proposals already on the table.
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