Putin proposes currency union with Belarus, Kazakhstan

2015/03/20
Russia's President Vladimir Putin. (Reuters / Maxim Zmeyev)

“We think the time has come to talk about the possibility to form a currency union in the future,” Putin said Friday at a meeting with his Kazakh and Belarusian counterparts Nursultan Nazarbaev and Aleksandr Lukashenko in Astana.


It’s easier to protect the common financial market when working shoulder to shoulder, Putin added.


READ MORE: Russia completes ratification of Eurasian Economic Union, as Putin signs law


At the Friday meeting in Astana the heads of Russia, Belarus and Kazakhstan – all member states of the Eurasian Economic Union - are discussing a joint game plan to tackle the global economic slowdown and challenges in the energy market that has seen Brent benchmark plunging to about $54 per barrel as of March 20 from its peak of $115 per barrel last June.


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