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Putin proposes de-dollarization of CIS

01.09.2015 20:57

Putin proposes de-dollarization of CIS

YEREVAN, September 1. / ARKA /. Russian president Vladimir Putin has submitted a bill to the State Duma (lower chamber of parliament) that calls on some former Soviet republics making the Commonwealth of Independent States (CIS) to abandon US dollar and euro as settlement currencies for their transactions, vesti.ru reports citing the Russian president’s official website.

The bill is designed to create a single financial market that would embrace Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and some other countries, vesti.ru said.

According to the report, a mechanism is to be created that will allow abandoning the US dollar and the euro as intermediate calculation currencies.

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Tags: CIS, de-dollarization, Putin

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