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Eurasian Economic Union Proposes Tax on Sale of Foreign Assets

The countries of the Eurasian Economic Union (EEU) must create their own system of protection against global risks, Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission (EEC), told RIA Novosti.

Many large international companies have announced that they are ceasing their activities in or leaving Russia after imposing large-scale sanctions against the country.

In addition, in his opinion, the EEU countries should have the opportunity to impose restrictions on the cross-border movement of capital in case of risky transactions.

Glazyev also noted that the single market of the EEU allows to significantly neutralize the impact of sanctions on the Russian economy.

"Washington threatens to expand them by including the enterprises of our partners who actively cooperate with the Russian ones and maintain cooperative relations with us," he said.

But, according to the EEC minister, this will not stop the integration of the EEU countries, on the contrary, it will stimulate the implementation of cooperation programs, import substitution, and will promote trade in national currencies.

To note, Armenia is also a member in the Eurasian Economic Union.

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