Too early for Russia, Kazakhstan, and Belarus to have same currency - Shuvalov's secretariat

There is currently no information on the name and dates of introduction of the future unified currency of the Eurasian Economic Union (EEU), which Russia, Kazakhstan, and Belarus will create in the nearest future.

There is currently no information on the name and dates of introduction of the future unified currency of the Eurasian Economic Union (EEU), which Russia, Kazakhstan, and Belarus will create in the nearest future.

"The issue of introduction of a unified currency is discussed at various events, but there are no specific dates of its introduction, everything will depend on the circumstances," the secretariat of First Deputy Prime Minister Igor Shuvalov told Interfax.

"It's too early to speak about its name now," the source said, commenting on the media reports stating that a unified currency of the EEU may appear in 2025 and be named "altyn."

An official from a financial and economic agency said a more serious debate on the introduction of a unified currency should begin in 2015, when the Eurasian Economic Union is expected to begin functioning.

Shuvalov earlier said in the Federation Council that the countries of the Eurasian Economic Union will unify their banking sector regulations within ten years and a unified financial and banking regulatory unit will appear in 2025. He said it has been agreed that the unified regulator will be located in Kazakhstan. Shuvalov did not mention any agreements on the unified currency.

Experts are traditionally skeptical about the issue of transitions to a unified currency. Russia and Belarus have had these negotiations for years. The parties named different dates for a possible introduction, but have never come close to real agreements on the key issue.

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