Saturday, August 19, 2017

Crimea to move to Russian ruble in three weeks

Acting President of the Republic of Crimea Sergey Aksenov announced recently that the nation will be converting its currency to the Russian ruble within three weeks.

Prior to Aksenov's announcement, Russian President Vladimir Putin stated his plans to introduce the ruble to both Crimea and Sevastopol's currencies at an accelerated pace, Ekburg.ru reports.

Putin also organized a meeting with representatives from Ukraine's largest banks to strategize the roll-out of the ruble in all areas affected.

Last week, Deputy Chairman of the Council of Ministers of Crimea Rustam Temirgaliev said in a statement to the media that Crimean citizens and businesses will have equal access to both the ruble and the hryvnia until January 2016 to reduce the threat of default in Ukraine, according to Ekburg.ru.