Putin Calls for Speeding up Process of Introducing Russia-Belarus Union State Single Currency

Russian President Vladimir Putin calls for speeding up the introduction of a single currency of the Russia-Belarus Union State.

While addressing the Russia-Belarus Union Supreme State Council in Minsk on Monday, the Russian President pointed to the lag of the joint action plan for single currency introduction. "Work should be sped up, otherwise the package agreements on forming the single economic area can be braked and collapse," Putin stressed.

The Russian President accentuated the crucial role of package agreements implementation that had started - primarily, the agreements on expanding co-operation in the gas sphere and equal terms in price policies.

Putin pointed out that the record turnover in 2002 (around $10 billion) was based on the decisions taken last year, in particular, the use of domestic prices on energy carriers, electric energy, railway tariffs. All this accounts for the economic effect, Vladimir Putin stressed.