Russia to consider currency union advisability in Eurasian Economic Union
MOSCOW. KAZINFORM - President of Russia Vladimir Putin has instructed the Central Bank of Russia and the Russian government to consider the advisability of creating a currency union in the Eurasian Economic Union. The relevant instruction of the Russian president was published by the Kremlin website on 10 March, BelTA has learned.
In accordance with the instruction the Central Bank of Russia and the Russian government will work together with the central banks of the Eurasian Economic Union member states to determine further avenues of integration in the currency and financial spheres within the framework of the Eurasian Economic Union for the sake of assessing the advisability and the feasibility of creating a currency union in the future.
Prime Minister of Russia Dmitry Medvedev and Elvira Nabiullina, head of the Central Bank of Russia, will have to report the fulfillment of the instruction by 1 September 2015.
Apart from that, the Russian government has been instructed to contact partners in the Eurasian Economic Union and the Eurasian Economic Commission to enable full-value participation of Russian ministries and agencies in forming common markets of commodities and services inside the Union and in pursuing coordinated policies in accordance with the Eurasian Economic Union Treaty, BelTA reports.