Global Biz
Russia seeks single currency in customs union
(Xinhua)
Updated: 2010-03-13 14:01
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MOSCOW - Russia is seeking the use of a single currency in the customs union with Belarus and Kazakhstan, says First Deputy Prime Minister Igor Shuvalov.
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The currency may not be that of any country but rather a brand new one, he said as quoted by Russian media on Thursday.
The economic integration among the CIS countries was an effective way against exterior threats, said Shuvalov, thus it was necessary to form a unified currency.
The customs bloc became officially effective from January 1. Russia, Belarus and Kazakhstan also decided at the end of last year to form a unified economic space by January 1, 2012.
