Topic. The aggravation of geopolitical, environmental and social risks creates new uncertainty in international economic relations. The challenges of the fourth industrial revolution reinforced the monetary, financial and commercial-industrial confrontation between the old and new leaders of the global economy in an effort to maximize individual access to global financial, informational, natural, intellectual and technological resources. In the course of toughening global competition, the USA, as the issuer of the key reserve currency, continues to use the “exorbitant privilege” — extracting investment and financial rent from the global turnover of goods and services. The need to ensure economic security and maintain financial sovereignty in the context of ongoing economic sanctions encourages Russia to actively participate in the creation of a payment and settlement infrastructure independent of the US dollar.Purpose. The article aims to summarise the experience of managing the economy based on the two-contour monetary system; secondly, to justify its use in creating an independent system of mutual settlements in the EAEU countries in the context of de-globalization and sanctions.Methodology. In the study, we applied a dialectical approach. In conducting the study, we used general scientific methods of analysis, synthesis, generalization, as well as methods of systemic, historical-logical and comparative analysis. Results. The functioning of a two-contour monetary system as a whole yielded positive and in some cases outstanding results of socio-economic construction and the creation of a new type of economy, such as, for example, the European model of the social market economy, the CMEA industrialization model, the Soviet economic model. A non-standard approach to the organization of financing of new industrialization in the Eurasian economic space was proposed based on the use of a two-contour monetary system. Conclusions. The implementation of the project of cross-border settlements between the EAEU countries using the experience of a two-contour monetary system is a promising direction for the development of cooperation between Eurasian countries on a new economic basis.
