Eurasian Economic Union 'Sees No Need' to Introduce Single Currency

There is no concept of a single currency for the Eurasian Economic Union (EEU) on the bloc's agenda, Minister in charge of the Development of Integration and Macroeconomics for the Council of the Eurasian Economic Commission (EEC), Tatyana Valovaya said Thursday.

MOSCOW (Sputnik) — The Eurasian Economic Union analyzed and took into account the European Union’s experience in introducing its single currency. Before considering a single currency, the EEU must first achieve a highly integrated common market, something it plans to accomplish by 2025, the minister added.

"As for now, I see no need to introduce a single currency. There are no conditions and no requirements for this," she said during a press conference.

There are no ongoing talks on the Eurasian Economic Union's expansion but the organization is open to such negotiations, Valovaya stated.

The Eurasian Economic Union is an international organization for economic integration launched in 2015, which has Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia as its member states.