Putin wants currency union with Belarus and Kazakhstan

The president of Russia has ordered the Central Bank of Russia and the government to address the issue of expediency of a currency union in the framework of the Eurasian Economic Union.

“The Bank of Russia together with the government of the Russian Federation in cooperation with central (national) banks of the member states of the Eurasian Economic Union should outline the main directions of integration in monetary and financial spheres in the framework of the Eurasian Economic Union, and address the issue of expediency and possibility of creation of a currency union in the long view,” the instruction of Vladimir Putin published on the official website of the Kremlin reads.

The head of the government Dmitry Medvedev and the head of the Central Bank Elvira Nabiullina are to report about implementation of the instruction before September 1, 2015.

The instruction was given following the results of the consultations with members of the government, which was held on February 18, 2015, Interfax reports.

The government, in cooperation with partners in the EAEU and the Eurasian Economic Commission is also told to provide full participation of Russian ministries and agencies in forming of single markets of goods and services in the framework of the EAEU, as well as implementation of the concerted policies envisaged by the Treaty on the EAEU.

Dmitry Medvedev is to report about fulfillment of this instruction to the leader of the state before July 1, 2015, and to continue reports once in half a year after that.

Photo: RBK