Andrey Grozov: The CIS has achieved significant economic results despite sanctions

Despite Western sanctions, the CIS has achieved notable results in the economic sector this year, Andrey Grozov, Russia’s permanent representative in the CIS statutory and other bodies, said.

“CIS countries, despite the multiple applications of various sanction packages—primarily against Russia and Belarus—and the threat of secondary sanctions against other CIS partners, have recorded significant progress and economic growth in the CIS region. The GDP of CIS countries has grown by 4.7% this year, and mutual trade turnover has been steadily developing,” Grozov said in Minsk ahead of a meeting of permanent representatives.

He noted that one of the priorities for Russia’s presidency in the CIS in 2024 is the establishment of a stable financial infrastructure independent of external influences.

Thanks to joint efforts, it has been possible to achieve that 85% of trade transactions between CIS countries are conducted in national currencies, Grozov noted.