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President Putin tries to create monetary union within EEU

Russian President Vladimir Putin instructed the Central Bank and the government "to determine future directions of integration in the monetary and financial areas" within the EEU "with the possibility of creating a monetary union in the future."

President Putin tries to create monetary union within EEU

This commission was offered to be discharged in cooperation with the central banks of the EEU Member States (Eurasian Economic Union) until September 1, 2015, Joinfo.ua reports with reference to the press service of the Kremlin.

Putin also instructed to ensure full participation of Russian ministries and departments in the formation of common markets of goods and services within the EEU, as well as in the implementation of coordinated policy foreseen by the Treaty on EEU.

Also, the president instructed the government "to develop an improved mechanism of interaction with the Eurasian Economic Commission and, if necessary, to prepare amendments to the regulations of the Russian Federation in connection with the creation of the Eurasian Economic Union".

It should be recalled that the Agreement on formation of the Eurasian Economic Union (EEU) was signed by Russia, Belarus, and Kazakhstan on May 29 in Astana, the document came into force on January 1, 2015.