Russian president instructs Bank of Russia to consider ways to create a currency union within Eurasian Economic Union

Russian President Vladimir Putin has instructed the Central Bank and the government, jointly with the CBs of Belarus, Kazakhstan and Armenia, to consider ways to form a currency union within the Eurasian Economic Union. According to the website of the Kremlin, the deadline is Sept 1 2015.

Putin has also instructed the government to discuss with partners from the Eurasian Economic Union and the Eurasian Economic Commission ways to ensure full access of Russian ministries and departments to the activities to form joint commodity and service markets and to develop and carry out joint policy in this sector. The first report on this subject is to be ready by June 1 2015.

Putin has also instructed that by June 1 2015 the government should take measures to improve interaction within the Eurasian Economic Union and, if need be, to draft amendments to relevant Russian laws. It will also have to draft proposals on the structure and membership of the Board of the Eurasian Economic Commission in 2016.