Belarus is taking steps to accelerate the launch of its Central Bank Digital Currency (CBDC) in an effort to evade US and EU-led sanctions and facilitate trade with international partners. President Alexander Lukashenko is expected to issue a verdict related to the CBDC in the coming days, according to Belarus’ Ekonomicheskaya Gazeta.
As a result of economic sanctions following the outbreak of war in Ukraine, both Minsk and Moscow have faced multiple packages of sanctions, making it difficult for Belarusian trade firms to operate in the international banking network. However, both countries have been actively seeking alternatives to dollar-based transactions.
