CIS countries must protect themselves against currency risks in the context of trade wars.

Axar.az reports that Russian President Vladimir Putin said this at a meeting of the CIS presidents. He said that the CIS countries should think about the formation of a single financial market in the future.

Putin stressed that an important aspect is a settlement in national currencies:

“I mean the problems that the whole world faces today. We see it. This is the result of trade wars and various restrictions, and we have to protect ourselves against currency risks. It is necessary to develop cooperation in the foreign exchange, coordinate the foreign exchange policy. If we do this, we can talk about the formation of a common financial market. I am confident that this will benefit our overall competitiveness.”