Friday, April 25, 2014

Russia pushing to sign Eurasian Economic Union Treaty in May

This Hungarian publication reports on Russian efforts to speed up the formation of the Eurasian Economic Union along with a proposed eventual currency for the Union called the Altyn.

More evidence that Russia wants to go its own way and that 2015 seems to be a pivotal year for things getting more serious. The full article linked above is pasted below as well:

Altyn Silver coins from the era of Peter the Great -- 1711

"The treaty establishing the Eurasian Economic Union will be signed by the leaders of Russia, Belarus and Kazakhstan in May, Russian First Deputy Prime Minister Igor Shuvalov said Thursday.

"The presidents of the three countries are determined to ink the treaty, which will come into force as early as January 1, 2015. 

The Eurasian Economic Union aims to pursue extensive economic relations with the EU including the possibility of establishing a "common economic space and even a free trade zone," the deputy prime minister said.

In 2011, the presidents of Belarus, Kazakhstan and Russia signed an agreement, setting a target date of 2015 for launching the Eurasian Union, an economic union made up by post-Soviet states.

Kyrgyzstan and Tajikistan have already expressed interest in joining the organization.

Current members of the Customs Union have also decided to speed up the introduction of the planned common currency called "Altyn”. According to original plans, "Altyn" was about to become a reality in 2025, but because of Western sanctions imposed on Russia the leaders of the three countries have agreed that they introduce it as early as 2020.

Altyn is a historic Russian currency. The name (originally "alti") means “six” in Tatar."

(the Voice of Russia – – edited by

No comments:

Post a Comment