Common EEU currency unrealistic within five years – Russian official

The Eurasian Economic Union (EEU) is not yet prepared for a common currency, Timur Suleymanov, Minister for Economy and Financial Policy, Eurasian Economic Commission (EEC), told Tert.am.

“I do not think that a common currency is realistic within the coming five years. A number of objective factors account for that. As you know, the presidents of the EEU member-states reached an agreement, so we are studying possibilities of creating a common currency,” Mr Suleymanov said.

Russian experts, as well as the Central Bank of Russia, are carrying out relevant work and will report the results to President Vladimir Putin.

“If the Russian president approves experts’ proposal, it will be submitted to the other member-states’ leaders for consideration. And it is not until a consensus-based decision has been made, the issue of whether the EEU will have a common currency will be settled.”