Lukashenko Sees No Single Currency for Eurasian Union During His Presidency

Belarusian President Lukashenko said that the introduction of a common currency had already been discussed between leaders of Eurasian Economic Union member countries, however, a number of issues must be solved before such a big change can be made.

MINSK, January 29 (Sputnik) – Belarusian President Alexander Lukashenko said Thursday the Eurasian Economic Union would not see a single currency during his presidential lifetime.

“I don’t think this will happen tomorrow and I don’t think it will happen during my presidential lifetime,” Lukashenko said during a press conference in Minsk.

Lukashenko said that the introduction of a common currency had already been discussed between leaders of Eurasian Economic Union member countries. The Belarusian leader, however, added that a number of issues must be solved before such a big change can be made.

The Eurasian Economic Union, comprising Russia, Belarus, Kazakhstan and Armenia, became effective on January 1. In May, Kyrgyzstan's membership, agreed on in December, will come into effect. The union aims to boost the economic integration of member nations, facilitating a free flow of goods, services, capital and labor in the region.

Earlier, Russian First Deputy Prime Minister Igor Shuvalov said the Eurasian Economic Union may eventually lead to the creation of a common financial and currency union.