The Model of Creation of the Single Payments Area within the Eurasian Economic Union

Abstract

The article considers the theoretical model of the creation of a payment bank of the Eurasian Economic Union. The validity of the creation of an issue bank, which at the same time can carry out the functions of a macroregulator of the Eurasian Economic Union, has been stated and proved. The necessity and economic feasibility of creating the union’s own digital fiat currency is substantiated. This will significantly reduce the sanctions pressure on Russia exerted by the United States, releasing Russia's economy from dollar dependence. Clearing based payments can be effected by means of a blockchain.